Vedanta Board Approves ₹3,000 Crore NCD Issuance On Private Placement To Strengthen Capital Structure & Cut Borrowing Costs
Vedanta Ltd’s Committee of Directors approved raising to Rs 3,000 crore via unsecured, rated, listed, redeemable non-convertible debentures (NCDs) on a private placement basis. The issuance comprises up to 3 lakh NCDs of Rs 1,00,000 face value each. The move aims to optimise borrowing costs and bolster the capital structure, following strong investor response to prior debt offerings.
Vedanta Ltd’s Committee of Directors approved raising to Rs 3,000 crore via unsecured, rated, listed, redeemable non-convertible debentures (NCDs) on a private placement basis. |
New Delhi: The committee of Directors of Vedanta Ltd has approved raising up to Rs 3,000 crore through debentures on a private placement basis. The fundraise is aimed at further strengthening the company's capital structure while optimising borrowing costs.
ALSO READ
The company has informed bourses that it will issue up to three lakh unsecured, rated, listed, and redeemable non-convertible debentures (NCDs) with a face value of Rs 1,00,000 each, aggregating to Rs 3,000 crore. The NCDs will be listed on the BSE. Previous issues of debt instruments and bonds have attracted significant investor interest.
In October last year, a USD 500 million bond issue was oversubscribed three times, while an NCD issuance in June last year received a nearly 60 per cent oversubscription. The company continues to access both domestic and international debt markets. The latest fundraise comes at a time when the conglomerate has been gradually deleveraging its balance sheet and refinancing debt to lower its overall borrowing costs.
Disclaimer: This story is from the syndicated feed. Nothing has been changed except the headline.
RECENT STORIES
-
-
-
-
-