Vedanta Gets Nod To Raise Up To Rs 350 Cr Via NCDs

Vedanta Limited, on Wednesday, announced that a Board-appointed panel via an issuance of non-convertible debentures has approved raising up to Rs 350 crore.

The company in its BSE filing added that the NCDs are to be redeemed after two years from the date of allotment through cash flows of the company.

Shares of the company are trading down at Rs 241 per share lower by Rs 3.75 per share or 1.5% on the NSE at 1425 hours.

The stock has delivered 120% returns in a period of one year and has outperformed the BSE Sensex and BSE Metal indices over the same time span.

Vedanta Ltd is one of the world's leading diversified natural resources companies. It involves in the production of zinc, lead, silver, aluminium, copper, iron ore, oil & gas and commercial power.

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