Vedanta board clears Rs 3,000 crore NCD fundraise

MUMBAI: The board of Vedanta has approved raising up to ₹3,000 crore through the issue of non-convertible debentures, the company said in an exchange filing on Wednesday. These NCDs will be unsecured, rated, listed and redeemable with a face value of ₹1,00,000 each. The NCDs are proposed to be listed on BSE.

In a separate filing, Vedanta also informed that CRISIL has assigned a 'CRISIL AA' rating to the NCDs, while placing it on 'Rating Watch with Developing Implications'. CRISIL Ratings has also continued its rating on the long-term bank facilities and existing non-convertible debentures of the company.