Vedanta made the biggest announcement of the year, will take decision on second dividend also on this day
Anil Aggarwal’s company Vedanta Resources has made a special announcement on Thursday (14 December 2023). Vedanta has announced credit financing of $ 1.25 billion from private equity lenders. The company will use it to repay the loan and for new credit facility.
The company said that this fund will help in improving the sustainable capital structure in the long term. Besides, this will also build investors’ confidence in the company. The company said that it has raised this fund from financial institutions to refinance the existing liabilities.
Vedanta also said that it has started talks with existing bond holders to increase the debt maturity profile. The company is also considering some discounts to increase the maturity.
These loans will mature in April 2026 and have been guaranteed by the company and its other subsidiaries. Besides, 13.26% shares of parent company Vedanta have also been pledged as collateral.
Meanwhile, Vedanta has informed the exchanges that on December 18, the board will meet to consider the second interim dividend for the business year 204. The company has fixed December 27 as the record date for the second interim dividend.
On Thursday, there is a pressure of about half a percent in the shares of Vedanta. This stock has risen only 5% in the last one month. Whereas, in the last 6 months or so far this year, there has been a decline in the stock. The 52-week high level of this stock is ₹340 per share and the 52-week low level is ₹208 per share.
