In an exchange filing, Vedanta said that its board has approved issuing upto 3,40,000 secured, unrated, unlisted, redeemable, non‐convertible debentures having a face value of Rs 1 lakh each aggregating up to Rs 3,400 crore in one or more tranches.

Meanwhile, the company’s board has also approved the second interim dividend of Rs 11 per equity share. The record date for the same is fixed on Wednesday, 27 December 2023

Vedanta, a subsidiary of Vedanta Resources, is one of the world’s leading natural resources companies spanning across India, South Africa, Namibia, Liberia, UAE, Korea, Taiwan and Japan with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power & glass substrate and foraying into semiconductors and display glass.

The company reported consolidated net loss of Rs 915 crore in Q2 FY24 from Rs 2,690 crore net profit recorded in Q2 FY23. Income from operations increased 16% year-over-year (YoY) to Rs 38,546 crore during the quarter.

The scrip rose 0.69% to Rs 262.40 on the BSE.