Vedanta Limited plans to raise at least ₹1,000 crore through local-currency bonds to refinance existing debt. This capital raise supports the company’s balance sheet following its demerger into five separate entities. The notes will carry maturities ranging from three to seven years.
Parent company Vedanta Resources denied media speculation regarding a potential sale of its shareholding in Vedanta Ltd or other group firms. This clarification followed a significant rally in shares of Vedanta Oil and Gas and Vedanta Iron and Steel. The company reiterated its commitment to value creation through the ongoing demerger.
Vedanta also commissioned India’s first high-tech portable exploration rig for gold and critical minerals in Chhattisgarh. The advanced rig is capable of high-speed drilling up to 1,000 meters. This deployment significantly enhances the country’s mineral exploration capabilities.