Vedanta raises Rs.5,000-Cr via NCDs

Publicly listed Vedanta Ltd has raised INR 5,000 crore through a private placement of secured debt to mutual funds and insurers. The NCDs of staggered maturities across three series drew anchor investors such as ICICI Prudential Mutual Fund, Aditya Birla Sun Life MF, Kotak Mahindra MF, Axis MF, Reliance General Insurance, Aseem Infrastructure Finance, and Alpha Alternatives.ICICI Prudential Mutual Fund was the largest investor across all three series, taking up nearly 30% of the 2.5-year tranche.The issue drew strong investor demand, garnering bids worth INR 6,555 crore, about 60% more than the base issue size of INR 4,100 crore.