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Updated December 19th, 2023 at 12:18 IST

Anil Agarwal’s Vedanta looks to raise Rs 3,400 crore through NCD

The fundraising will create a long-term sustainable capital structure for the company, demonstrates continued ability to access global capital: Vedanta

Gauri Joshi
Vedanta
Vedanta | Image:Unsplash
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Mumbai-headquartered multinational mining company Vedanta Ltd. has approved raising of Rs 3,400 crore by issuing Non-Convertible Debentures (NCDs), the company said Tuesday.

The Anil Agarwal-led energy conglomerate on Monday, had declared its second interim dividend worth Rs 11 per share for financial year 2024, resulting in a total payout of Rs 4,089 crore. 

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The fundraising will create a long-term sustainable capital structure for the company… also demonstrate the company's continued ability to access global capital markets and investor confidence in the underlying business, Vedanta said in a statement.


Notably, the announcements come just before Vedanta's debt repayment deadline in January 2024, worth $1 billion.

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Vedanta Plc, which owns a 63.71 per cent stake in the listed entity as of September 30, will be entitled to a payout of Rs 2,065 crore.


The listed entity will also receive a dividend tranche worth Rs 1,645 crore from its subsidiary Hindustan Zinc, in which it owns a 64.92 per cent stake.

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Shares of Vedanta were trading 0.5 per cent higher at Rs 262.

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Published December 19th, 2023 at 12:18 IST

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