These NCDs will be issued in one or more tranches, the company said.
Earlier this week, the company also announced its second interim dividend of ₹11 per share, entailing a payout of ₹4,089 crore.
Vedanta has been paying hefty dividends over the past few quarters as it looks to support parent UK-based Vedanta Resources, which is currently looking at debt obligations of around $4.5 billion between now to March 2025.
Vedanta Resources has a 63.71% stake in Vedanta, and the latest dividend announced is expected to bring in over ₹2,600 crore for it.
While the parent has reportedly secured $1.25 billion in debt refinancing along with a new credit facility from lenders, it was also recently downgraded by S&P Global Ratings to ‘CC’ from ‘CCC’ as analysts were concerned about the extension of the maturities of some of its bonds.
Shares of Vedanta today closed at ₹262.10 on the National Stock Exchange, up 0.5% from its previous close.