Vedanta Board Clears ₹50 Billion NCD Issue

Vedanta Ltd. on Tuesday approved raising up to ₹50 billion through issuance of unsecured, listed, rated, non-convertible, redeemable debentures on a private placement basis, in one or more tranches.

Each debenture will have a face value of ₹0.5 million, the company said in an exchange filing. Axis Trustee Services Ltd. has been appointed as debenture trustee effective June 3.