Vedanta Approves QIP Floor Price at Rs 461.26

Vedanta Ltd has approved a Qualified Institutional Placement (QIP) with a floor price of Rs 461.26 per share, aiming to raise around Rs 6,000 crore to reduce debt and support capital expenditure. The company's recent financials show a drop in consolidated net profit and revenue from operations. Vedanta plans to use the funds to cover ongoing capex, potentially retire high-cost debt, and enhance profitability. The conglomerate is pursuing growth projects with a long-term capex goal of $8 billion and aims for a demerger to unlock more value across verticals.