Vedanta plans to raise at least 10 billion rupees, approximately $105 million, through rupee bonds in the coming weeks with maturities ranging from three to seven years, targeting refinancing of existing debt.
The move marks the conglomerate's third domestic bond issue this year, part of a widening trend as Indian companies accelerate debt market activity to lock in funding costs before anticipated rate hikes. The Reserve Bank of India's policy path has tightened duration risk calculations across the market, with firms racing to secure longer-term capital ahead of potential increases in the cost of borrowing.
In a parallel financing effort, Vedanta Aluminium Metal Ltd. a unit of the group, is raising 135 billion rupees, equivalent to $1.4 billion, through loans from Axis Bank, HDFC Bank, and ICICI Bank. The deal marks the first large local-currency borrowing by a Vedanta unit since the conglomerate's business split in June.
