Vedanta to raise $409 million via debentures

Vedanta Limited is likely to raise Rs 34 billion ($408.76 million) through an issue of debentures. This is its third fundraising move in 2023-24. The fundraise comes at a time when the company is seeking ways to arrange capital for its cash-strapped parent, the UK-based Vedanta Resources. The board of directors has approved the issue of 340,000 non-convertible debentures (NCDs), in one or more tranches, each carrying a face value of Rs 100,000.