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Vedanta Eyes $330M Bond Sale
25 Feb
Summary
- Vedanta plans to raise $330 million via bond sale.
- The bond offering will occur before the end of March.
- Four Vedanta business units will be demerged by May.
India's Vedanta is preparing to raise approximately 30 billion rupees, equivalent to $329.89 million, through a bond sale. This issuance is anticipated to conclude before the end of March, representing Vedanta's second bond offering within the current fiscal year.
The company is considering selling either two-year or three-year bonds, or a blend of both maturities. Talks with potential investors, including mutual funds, have already commenced. The conglomerate targets completing this fundraising round in the first half of March, pending board approval.
In parallel strategic moves, Vedanta aims to demerge four of its business units. These include steel and ferrous metals, oil and gas, aluminium, and power. These spun-off entities are slated for listing on Indian exchanges by the middle of May. Vedanta's base metals unit will remain with the parent company.
