Vedanta raises ₹2,575 cr through oversubscribed NCD issue
after close1 source ↓written by the desknot a recommendation
- via a non-convertible
- ₹2,575 crore
- was oversubscribed
- ₹2,000 crore
- greenshoe option
- ₹575 crore
- a coupon
- 8.95%
Vedanta Ltd successfully raised ₹2,575 crore via a non-convertible debenture (NCD) issue, driven by strong demand from institutional investors like ICICI Prudential and Kotak Mutual Fund. The base issue of ₹2,000 crore was oversubscribed, prompting the exercise of a ₹575 crore greenshoe option. The three-year debentures carry a coupon of 8.95% and have been rated AA by Icra Limited.
Not investment advice. For informational purposes only.