Vedanta Ltd has proposed to raise up to Rs 2,000 issuance of non-convertible debenture (NCDs). The company proposes to offer rate, secured, redeemable, non-cumulative, non-convertible debentures aggregating up to Rs 2,000 crore in more than one tranches. Also, the company will hold a meeting of its committee of directors.
As per the above issuance is pursuant to the approval of the shareholder’s special resolution was passed at 53^rd annual general meeting of the company which was held on 24 August 2018 and the resolution of the board of directors was passed at their meeting held on May 7, 2019. Vedanta Ltd is a diversified natural resources company whose business primarily involves producing oil and gas, zinc-lead-silver, copper, iron ore, aluminium and commercial power.
The company has the presence of all over India, South Africa, Namibia, Australia and Ireland. The subsidiary company of Vedanta is Vedanta Resources Plc, London listed company.
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