Vedanta Limited's board committee has approved the issuance of unsecured, rated, listed, redeemable non-convertible debentures (NCDs) worth ₹3,000 crore through private placement. The committee meeting held on February 25, 2026, from 11:30 AM to 12:40 PM IST, formalized this significant capital raising initiative under SEBI regulations.

NCD Structure and Details

The approved issuance comprises up to 3,00,000 NCDs with a face value of ₹1,00,000 each, aggregating to ₹3,000 crore. This structured approach allows the company to access institutional capital through debt instruments while maintaining flexibility in pricing and timing.

Regulatory Compliance Framework

The NCD issuance has been approved pursuant to Regulations 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The approval follows the company's earlier communication dated February 20, 2026, and complies with SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Key Terms and Conditions

The specific terms including tenure, coupon rates, security details, and redemption schedules will be outlined in the disclosure document as per standard market practices. The company has indicated that details regarding charge or security creation over assets, special rights or privileges, and payment schedules will be specified in the comprehensive disclosure document.

Strategic Capital Market Transaction

This private placement represents a substantial debt capital market transaction for Vedanta Limited. The committee's approval enables the company to proceed with accessing institutional funding while ensuring full compliance with regulatory requirements. The meeting was concluded with Company Secretary and Compliance Officer Prerna Halwasiya signing the formal documentation digitally on February 25, 2026.

Vedanta has announced a significant downward revision to its aluminium business outlook, marking a substantial adjustment to the company's financial projections. The mining and metals conglomerate has reduced its FY EBITDA guidance for the aluminium segment from over $4 billion to approximately $2.7 billion.

Revised Financial Projections

The company's updated guidance represents a notable shift in expectations for its aluminium operations. The revised projections reflect challenges in achieving previously anticipated production and earnings targets.

Impact on Business Outlook

The downward revision indicates that Vedanta's aluminium business is experiencing slower production and earnings growth than earlier expected. This adjustment suggests operational challenges or market conditions that have impacted the company's ability to meet its initial targets.

Future Growth Trajectory

Despite the current reduction in guidance, Vedanta has outlined a recovery path for its aluminium operations. The company projects EBITDA of $3.6 billion for FY27 and $4.1 billion for FY28, indicating expectations for gradual improvement in performance over the medium term.

The revised projections suggest that while the company faces near-term challenges, management anticipates a return to stronger financial performance in the aluminium segment by FY28, when EBITDA is expected to exceed the original FY guidance levels.