Vedanta Ltd raises Rs 8,500 cr through QIP at Rs 440 per share
Mumbai: Vedanta Limited announced on Friday that it raised Rs 8,500 crore through a Qualified Institutions Placement (QIP), which launched on July 15, at a price of Rs 440 per share, media reported.
This price represents a 4.61% discount to the floor price of Rs 461.26 per equity share, Moneycontrol reported.
In a stock exchange filing, billionaire Anil Agarwal’s company stated that it sold 19.31 crore shares to achieve this funding, according to the report.
On July 19, Vedanta's shares closed at Rs 441, marking a 2.3 percent decline for the day.
Moneycontrol had earlier reported, citing offer documents filed by Vedanta Limited that it plans to use the proceeds from its Rs 8,000-crore Qualified Institutional Placement (QIP) offer to partially or fully repay its debt to Oaktree Capital, Deutsche Bank, and Union Bank of India, according to the
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Pakistani government plans to shut down 16 Afghan refugee camps
Pakistan: Multiple suspects booked for allegedly vandalising, attacking Ahmadiya community members
Pakistan: Violent anti-govt protests rock PoK, 2 dead
Jaishankar discusses geopolitical trends with Antonio Guterres
