Vedanta approves a QIP issue to raise up to Rs 8,500 crore for debt reduction and capital expenditure.
Mining giant Vedanta approves a QIP issue with a floor price of Rs 461.26 per equity share, aiming to raise up to Rs 8,500 crore to reduce debt and meet capital expenditure requirements. The company targets long-term capital expenditure of around $8 billion, with a current fiscal target at $1.9 billion. Proceeds from the fundraising may be used to retire high-cost debt and optimize capital structure.
July 15, 2024
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