Vedanta Limited, a prominent mining and metal company, is planning to raise up to Rs 2,500 crore through non-convertible debentures. The company’s Board of Directors approved the issuance of Senior, Secured, Rated, Listed, Redeemable NCDs worth Rs 1,00,000 each, totaling Rs 2,500 crore.
The shares of Vedanta witnessed a significant surge of almost 4 per cent in Thursday’s trading session following this announcement. Vedanta Aluminium, the largest metal producer in India, declared its expansion plans to become one of the top three global players with a 3 MTPA production capacity.
A key milestone towards achieving total vertical integration was the successful commissioning of the new 1.5 MTPA expansion at its alumina refinery in Lanjigarh, Odisha. This expansion is part of Vedanta’s new 3 MTPA facility, which will elevate the Lanjigarh refinery’s total capacity from 2 MTPA to 5 MTPA.
With this strategic move, Vedanta aims to bolster its position in the global metal market and solidify its status as a leading player in the industry. The company’s focus on expansion and diversification reflects its commitment to sustainable growth and excellence in the mining and metal sector.
