Vedanta to raise up to Rs 1,250 crore via NCDs

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Vedanta
Mining major on Wednesday said it will raise up to Rs 1,250 crore through issuance of non-convertible debentures (NCDs).

 

“The Committee of Directors of the Board of Directors of the company in their meeting held on September 30, 2016 has approved issuance of non-convertible debentures up to Rs 1,250 crore,” Ltd said in a BSE filing.

 

Last week, on September 30, elevated G R Arun Kumar as the Chief Financial Officer (CFO) of the Group. Kumar will be the CFO for both London-listed Resources as well as BSE and NSE-listed Ltd, like the outgoing CFO D D Jalan.

 

Kumar, currently Deputy CFO at Vedanta, will take over from Group CFO and Whole-time Director of Ltd Jalan on his superannuation, effective September 30, it said in a statement.

 

Shares of Ltd were trading 2.59 per cent higher at Rs 192 on BSE.