INSUBCONTINENT EXCLUSIVE:
Mumbai: Vedanta Ltd is preparing to sell long-term bonds for the first time in the Indian market, with Life Insurance Corporation set to
against its investment, a market participant with direct knowledge of the matter told ET
This means, the metals and mining company will provide security worth Rs 2,500 crore to the insurer.
The company will use the proceeds both
to fund capital expenditure and refinance existing debt, the dealers said.
The issue of non-convertible redeemable debentures will open for
subscription next Monday on the exchange-driven electronic bidding platform, they said
They expect the bonds to offer rates in the range of 8.5-9%.
This is the first time that Vedanta is tapping LIC for funds
continue to reflect strong resilience in business risk profile, driven by Vedanta's diversified presence across commodities, cost-efficient
signed an agreement to deploy GE's digital smelter solutions at its largest smelter at Jharsuguda in Odisha, ET reported on February 17.
The
move, which is tipped to significantly increase its operational efficiency and productivity, will be the first such deployment of digital
twin technology at any aluminium smelter in India.