How much money is Vedanta aiming to raise through its upcoming bond sale?

Vedanta is aiming to raise approximately 30 billion rupees, which amounts to $329.89 million, through its upcoming bond sale.

When is Vedanta's bond sale expected to be completed?

The bond sale is expected to be completed before the end of March, with the company targeting the first half of March for completion.

What are Vedanta's plans for demerging its business units?

Vedanta plans to demerge four business units—steel and ferrous metals, oil and gas, aluminium, and power—into separately listed companies, with the base metals unit remaining with the parent.

Home / Business and Economy / Vedanta Eyes $330M Bond Sale

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.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.