Vedanta moves up on getting nod to raise up to Rs 500 crore

Vedanta Ltd. | Metal - Non Ferrous | Metals & Mining | BSE: 500295 | NSE: VEDL

20 Dec 2017 Evaluate

Vedanta is currently trading at Rs. 316.65, up by 0.30 points or 0.09% from its previous closing of Rs. 316.35 on the BSE.

The scrip opened at Rs. 316.10 and has touched a high and low of Rs. 318.00 and Rs. 313.50 respectively. So far 240968 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 346.80 on 03-Nov-2017 and a 52 week low of Rs. 205.00 on 27-Dec-2016.

Last one week high and low of the scrip stood at Rs. 318.00 and Rs. 280.75 respectively. The current market cap of the company is Rs. 117481.92 crore.

The promoters holding in the company stood at 50.23%, while institutions and non-institutions held 31.03% and 15.02% respectively.

Vedanta has received an approval to raise up to Rs 500 crore this week through an issue of securities on private placement basis.

The duly authorized committee of directors in a meeting approved offering for subscription, on a private placement basis, up to 500 secured, rated, non-cumulative, redeemable, non-convertible debentures (NCDs) aggregating up to Rs 500 crore. The date of allotment of securities is December 20, 2017 and date of maturity is December 4, 2020.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.