Vedanta Ltd. has enlisted JPMorgan Chase & Co. to aid in raising Rs 2,500 crore ($300 million) through rupee-denominated bonds. The financing initiative, led by Nitin Rungta of JPMorgan’s Indian division, targets global private credit funds as potential investors. The proposed bonds, with a tenor of three to five years, aim to bolster Vedanta’s business operations. The company seeks to enhance its debt and cash profile through diversified refinancing and capital-raising endeavors, according to a Vedanta spokesperson. JPMorgan declined to comment on the matter. Vedanta’s directors previously approved the plan for the private placement of non-convertible bonds.
Vedanta Plans to Raise Rs 2,500 Crore via Rupee Bonds
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