Vedanta will hold a board meeting on Thursday, September 21, to consider a proposal to issue non-convertible bonds in a private placement as part of its routine refinancing in the normal course of business.
Parent company Vedanta Resources faces nearly $2 billion worth of bond repayments in fiscal 2025. The company faces total debt repayments worth $3.6 billion in the next fiscal year. Vedanta stock will be in focus on Monday.
In May, Vedanta Resources Limited (Vedanta), the parent company of Mumbai-listed mining giant Vedanta Ltd., said it had repaid a $400 million loan, cutting total debt to $6.4 billion.”Vedanta aims to further reduce debt over the remainder of fiscal 2024 and ultimately intends to reduce total debt to zero,” the company said at the time. “Our expectations of strong demand, particularly from India, combined with our world This will be aided by strong operating performance from our asset base,” it added
