Vedanta Ltd. on Friday has approved a plan to raise up to Rs 3,500 crore through the private placement of unsecured, rated, listed and redeemable non-convertible debentures, according to the company's regulatory filing. The Committee of Directors approved the issue at its meeting on September 18, 2026, as the company moves ahead with its debt capital raising and refinancing plans.
The issue will comprise up to 3,50,000 NCDs, each with a face value of Rs 1 lakh. The securities will be listed on BSE Ltd. and offered through the private placement route to institutional and other eligible investors rather than through a public issue.
Vedanta NCD Issue Details
The NCDs will be unsecured, rated, listed and redeemable. The company has not disclosed the specific tenure, coupon rate and interest payment schedule in the information provided. These terms will be set out in the disclosure document.
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The Rs 3,500-crore issue is larger than the Rs 3,000-crore NCD issuance approved by Vedanta in February 2026, according to the information provided.
The debt issuance is part of Vedanta's routine refinancing programme, according to the information provided. The company is looking to replace existing obligations and manage its borrowing costs, with the information provided putting the targeted borrowing cost below 8.5% a year.
Vedanta Debt Raising, Credit Rating
Vedanta's latest NCD issue comes after ICRA and CRISIL upgraded the company's credit ratings to AA+/Stable in July 2026, from AA/Stable previously, according to the information provided.
The company reported consolidated net profit of Rs 5,294 crore for the first quarter of FY27, up 152% from a year earlier. Its net debt declined by Rs 2,223 crore during the quarter.
The proposed NCDs will be listed on BSE Ltd., providing a route for secondary-market trading of the securities.
Key NCD Issue Details
- Issue size: Up to Rs 3,500 crore
- Number of NCDs: Up to 3,50,000
- Face value: Rs 1 lakh per NCD
- Instrument: Unsecured, rated, listed and redeemable NCDs
- Issue route: Private placement
- Listing: BSE Ltd.
- Tenure and coupon: As specified in the disclosure document
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