Vedanta board approves ₹3,500 crore fundraise via NCD issuance; stock up 1.2%

Vedanta Group’s flagship company, Vedanta Ltd, in its board meeting on Friday, September 18, considered and approved the issuance of non-convertible debentures (NCDs) on a private placement basis to raise funds aggregating up to ₹3,500 crore from investors.

As per the NSE filing, Vedanta Ltd will issue up to 3,50,000 or 3.5 lakh non-convertible debentures, each at a face value of ₹1 lakh apiece in order to raise up to ₹3,500 crore from the fundraising move.

The overall fundraising move will be carried out in one or more tranches, the company said.

“We hereby inform that the duly authorised Committee of Directors of the company, at its meeting held today i.e., Friday, September 18, 2026, has considered and approved the issuance of Unsecured, Rated, Listed, Redeemable, Non-Convertible Debentures,” Vedanta informed the stock exchanges.

Vedanta’s fundraiser comes as an ordinary course of business, for which the board originally passed a resolution on May 29, 2026.

NCDs, or non-convertible debentures, are a type of debt instrument which companies use to raise funds from investors for a fixed period in exchange for interest returns. However, unlike convertible debt instruments, NCDs will not be converted into equity shares on maturity.

NSE data showed that Vedanta shares were trading 1.2% higher at ₹260.65 apiece as of 1:00 pm (IST) on Friday’s market, in comparison to ₹257.45 apiece at the previous equity market close.

During the morning market hours, the stock surged 1.7% to an intraday high of ₹261.90 apiece as the directors were considering the proposal for the NCD issue, which was approved and announced later during the day.

In June this year, Vedanta Ltd completed its strategic demerger to create Vedanta Aluminium Metal, Vedanta Power, Vedanta Oil & Gas, and Vedanta Iron & Steel. The four newly formed entities were listed on the exchanges on June 15, 2026.