Vedanta raises ₹2,575 cr through oversubscribed NCD issue
pre-market1 source ↓written by the desknot a recommendation
- Ltd successfully raised
- ₹2,575 crore
- was oversubscribed
- ₹2,000 crore
- greenshoe option
- ₹575 crore
- and have received
- 8.95%
Vedanta Ltd successfully raised ₹2,575 crore through a non-convertible debenture (NCD) issue, driven by strong demand from institutional investors like ICICI Prudential Mutual Fund and Kotak Mutual Fund. The base issue of ₹2,000 crore was oversubscribed, leading to the exercise of a ₹575 crore greenshoe option. The three-year debentures carry a coupon of 8.95% and have received an AA rating from Icra Limited.
Not investment advice. For informational purposes only.