New Delhi, February 26 The Board of Directors of Vedanta Ltd has approved raising up to ₹3,000 crore through debentures through a private placement.
The fundraising aims to further strengthen the company's capital structure while optimizing borrowing costs.
The company has informed stock exchanges that it will issue up to three lakh unsecured, rated, listed, and redeemable non-convertible debentures (NCDs) with a face value of ₹1,00,000 each, totaling ₹3,000 crore.
The NCDs will be listed on the BSE.
Previous issuances of debt instruments and bonds have attracted significant investor interest.
In October last year, a $500 million bond issue was oversubscribed three times, while an NCD issuance in June last year received nearly 60 per cent oversubscription.
The company continues to access both domestic and international debt markets.
The latest fundraising comes at a time when the conglomerate has been gradually reducing its debt and refinancing to lower its overall borrowing costs.