New Delhi, April 4 (SocialNews.XYZ) Vedanta Limited is seeking to raise up to Rs 2,500 crore in non-convertible debentures.
“The duly authorised Committee of Directors at its meeting held on Thursday considered and approved for raising, on a private placement basis, up to 2,50,000 nos. Senior, Secured, Rated, Listed, Redeemable, Non-Convertible Debentures (NCDs) of face value Rs 1,00,000 each aggregating up to Rs 2,500 crore in one or more tranche(s)," the company said.
The shares of Vedanta were up almost 4 per cent in trade on Thursday.
Vedanta Aluminium, India’s largest producer of the metal, announced ongoing expansion efforts to be among the top three global players with 3 million tonnes per annum (MTPA) of production capacity.
In a significant step towards achieving 100 per cent vertical integration, the company announced the successful commissioning of the new 1.5 MTPA expansion at its alumina refinery in Lanjigarh, Odisha.
This additional 1.5 MTPA capacity is a part of the company’s new 3 MTPA facility, which will take the overall nameplate capacity at the Lanjigarh refinery from the existing 2 MTPA to 5 MTPA.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz