Vedanta's NCD Issue Falls Short: Raises ₹2,600 Crore Amid Tepid Demand

Vedanta Limited, the metal and mining giant, has scaled back its Non-Convertible Debenture (NCD) issue to ₹2,600 crore from the initially planned ₹3,000 crore due to lukewarm investor response. The company offered two series of unsecured NCDs with annual coupon rates of 9.40% and 9.50%, maturing in 2027. To attract investors, Vedanta provided additional incentives and allocated ₹705 crore to anchor investors. The funds raised will be used for debt refinancing and capital expenditure. This development comes as Vedanta navigates significant debt obligations and pursues its demerger plans to split its businesses into separate listed entities.
Sources: Economic Times, Angel One, Business Today