Vedanta Ltd approves issue of Non-Convertible Debentures worth Rs. 2000 crores

Vedanta Ltd is subject to favorable market conditions in the process of issuing Secured, Rated, Non-Cumulative, Redeemable Non-Convertible Debentures (NCDs) of Rs. 10,00,000/- (Rupees Ten Lakhs Only) each upto Rs. 2000,00,00,000/- (Rupees Two Thousand Crores Only) on Private Placement basis. The issuance of NCDs is part of the overall 'Debt Refinancing' of the Company to substitute the short term liabilities / borrowings / debt and / or to retire higher cost debt.

The NCDs are proposed to be listed on the Bombay Stock Exchange of India Limited (BSE).

This issue is part of the overall approval of Rs.8000 crores (Rupees Eight Thousand crores) by the Board of Directors and by the Shareholders in the 50th AGM of the Company held on July 11, 2015, permitting issuances in one or more series/tranches on private placement basis during a period of 12 months.

Shares of Sesa Sterlite Limited was last trading in BSE at Rs.105.25 as compared to the previous close of Rs. 107.2. The total number of shares traded during the day was 1015980 in over 11497 trades.

The stock hit an intraday high of Rs. 107.45 and intraday low of 102.1. The net turnover during the day was Rs. 106492472.

Source : Equity Bulls

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