Billionaire Anil Agarwal plans to raise up to Rs 5000000000 via…
New Delhi: Anil Agarwal-led mining firm Vedanta Ltd on Friday, May 30 said the committee of directors has approved raising up to Rs 5,000 crore via issuance of debentures. The committee approved the issuance of 5 lakh unsecured, rated, listed, redeemable non-convertible debentures (NCDs) of face value of Rs 1 lakh each on a private placement basis, according to a regulatory filing by Vedanta.
“The duly authorised committee of directors at its meeting held today has considered and approved the issuance of unsecured, rated, listed, redeemable, non-convertible debentures (NCDs) on a private placement basis aggregating up to Rs 5,000 crore,” the company said in the filing.
In the January-March quarter, Vedanta reported a 154.4 per cent growth in its consolidated net profit to Rs 3,483 crore which was pushed by lower production costs and higher volumes. The company had posted a net profit of Rs 1,369 crore in the year-ago period.
During Q4 FY25, its income rose to Rs 41,216 crore from Rs 36,093 crore in the year-ago period. As on March 31, 2025, the company’s gross debt stood at Rs 73,853 crore.
A top official of the company said that the demerger of its businesses is expected by the end of September this year. “We are on track to finish (the demerger) by the second quarter end,” said Vedanta CFO Ajay Goel while talking to news agency PTI.
Vedanta Ltd is one of the world’s leading natural resources, critical minerals, energy, and technology companies spanning across India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan with significant operations in sectors like oil and gas, zinc, lead, silver, copper, iron ore and steel.
The appellate tribunal National Company Law Appellate Tribunal (NCLAT) has stayed the National Company Law Tribunal (NCLT) orders against the demerger of the multinational mining company into separate entities and subsequent listing.
The Mumbai bench of NCLT had on March 4, 2025 rejected the first motion petition moved for the composite scheme of arrangement between Vedanta in the matter of Talwandi Sabo Power Ltd (TSPL), observing that “material facts have not been disclosed” regarding its debt obligations, which was against the Companies Act.
(With PTI inputs)
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