In an exchange filing, Vedanta said that its board has approved issuing upto 8,000 unsecured, rated, listed, redeemable, non‐convertible debentures having a face value of Rs 10 lakh each aggregating up to Rs 800 crore (base issue size of Rs 500 crore and green shoe option of up to an additional Rs 300 crore).

The tenure of the instrument is 15 months from the deemed date of allotment. These NCDs will be listed on the BSE.

The NCDs are to be redeemed at par on maturity date, said the company.

Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia.

On consolidated basis, Vedanta's net profit declined 53.71% to Rs 2,690 crore despite of 20.6% increase in revenue from operations to Rs 36,237 crore in Q2 FY23 over Q2 FY22.

Shares of Vedanta declined 1.31% to Rs 309.65 on the BSE.