Vedanta plans to raise Rs 8,000 crore through a QIP, appoints bankers for the issue.
Vedanta, a major company, announced that it is raising ₹1,000 crore by issuing 1 lakh non-convertible debentures (NCDs), each worth ₹1 lakh, through a private placement. These NCDs will be listed on the BSE (Bombay Stock Exchange).
Vedanta’s stock has risen by 74% this year, largely due to the company’s plan to split its six core businesses into six separate companies. This demerger plan aims to create more value for shareholders and improve operational efficiency. Shareholders of Vedanta will receive one share of each of the five new companies for every share they currently own in Vedanta. This demerger is expected to be completed by the end of the current fiscal year.
Over the past five years, Vedanta’s revenue has increased significantly from ₹84,447 crore in FY2020 to ₹143,727 crore in FY2024. The company also turned a loss of ₹4,743 crore in FY2020 into a profit of ₹7,537 crore in FY2024. However, profits have decreased from a peak of ₹23,709 crore in FY2022.
Vedanta’s history dates back to the 1980s when it started as Sterlite Industries. The company expanded and is now headquartered in London under its parent company, Vedanta Resources Plc. In 2007, Vedanta acquired Sesa Goa and later merged the two companies to form Sesa Sterlite, which was eventually renamed Vedanta Ltd.
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