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Vedanta Approves QIP Floor Price at Rs 461.26
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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.
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Coverage Details
- Total News Sources
- 2
- Left
- 1
- Center
- 0
- Right
- 0
- Unrated
- 1
- Last Updated
- 45 days ago
- Bias Distribution
- 50% Unrated
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