Vedanta gets board approval to issue NCDs worth Rs 1,250 crore; stock up 2.16%

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Vedanta announced on Wednesday that the company has received its board approval to raise up to Rs 1,250 crore funds via issue of non-convertible debentures (NCDs).

"Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please note the committee of the directors of the board of directors of the company in their meeting held on Friday, September 30, 2016, have approved issuance of non-convertible debentures (NCDs) up to Rs 1,250 crore," cited Vedanta in a filing to the BSE on Wednesday.

At 11:43 hours, the stock of Vedanta was trading up 2.16% or Rs 4.05 at Rs 191.20 on the BSE.