Vedanta Limited, a subsidiary of Vedanta Resources Limited, will raise ₹1,000 crore by offering "rated, secured, redeemable, non‐cumulative, non‐convertible debentures" in one or more tranches, the company told the stock exchanges.
In this regard, the oil & gas and metals company will hold a meet of the committee of directors on December 27, 2021. "The above issuance is pursuant to the Board of Directors’ resolutions passed at their meeting held on May 07, 2019, and October 03, 2020," the company said on Wednesday.
Vedanta Limited has significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium and power across India, South Africa and Namibia.
Anil Agarwal-led mining group Vedanta Resources had recently withdrawn cases against the government in the Delhi High Court and before an international arbitration tribunal to settle a ₹20,495 crore retrospective tax dispute.
The Vedanta Ltd stock closed at ₹342.00, up ₹5.15 or 1.53 per cent, on the National Stock Exchange on Wednesday.
Also read: Retro tax: Vedanta withdraws case against govt in Delhi HC, arbitration tribunal
