Vedanta will hold a meeting of the committee of directors on Thursday, September 21, to consider the proposal for the issuance of Non-Convertible Debentures on a private placement basis as part of its routine refinancing that is undertaken in the ordinary course of business.
The parent company, Vedanta Resources, faces repayments of bonds worth nearly $2 billion in the financial year 2025. The company is facing total debt repayment worth $3.6 billion in the next financial year. Shares of Vedanta will be in focus on Monday.
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In May, Vedanta Resources Limited (Vedanta), the parent company of Mumbai-listed mining giant Vedanta Ltd., said it had repaid $400 million in loans, cutting its gross debt to $6.4 billion. “Vedanta is targeting further debt reduction during the balance of FY24 and ultimately intends to lower gross debt towards zero,” the company had said then. “This will be aided by our expectations of robust demand, particularly in India, coupled with strong operational performance from our world-class asset base.” The Hindu BusinessLine