Vedanta Limited (NSE: VEDL, BSE: 500295) has announced a significant extension to the timeline for fulfilling conditions precedent under its Scheme of Arrangement. The company has pushed the deadline from September 30, 2025, to March 31, 2026, providing additional time to meet specified arrangement requirements.

Key Points of the Extension

• The extension applies to the Scheme of Arrangement between Vedanta Limited and its subsidiaries.
• The deadline for fulfilling conditions precedent has been moved from September 30, 2025, to March 31, 2026.
• This decision was approved by the Board of Vedanta Limited and the Resulting Companies.

Background of the Scheme

The Scheme of Arrangement involves Vedanta Limited (the Demerged Company) and four Resulting Companies:

1. Vedanta Aluminium Metal Limited
2. Talwandi Sabo Power Limited
3. Malco Energy Limited
4. Vedanta Iron and Steel Limited

Reasons for the Extension

According to the company's disclosure, the extension was necessitated due to ongoing processes, including:

• Pending approval from the National Company Law Tribunal, Mumbai Bench (NCLT)
• Awaiting approvals from certain government authorities

Implications of the Extension

This extension, made under Clause 39.7 of the Scheme, allows Vedanta and its subsidiaries more time to satisfy all conditions precedent. It's important to note that:

• The extension does not affect the validity of other parts of the Scheme, which continue in full force and effect.
• If conditions are not met by the new deadline, the relevant parts of the Scheme may become null and void, unless further extended or waived as permitted by applicable law.

Corporate Governance

The decision to extend the deadline was made by the Board of Vedanta Limited at 6:33 pm IST on September 30, 2025. This information was disclosed to the stock exchanges in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Vedanta's move to extend the deadline highlights the complex nature of corporate restructuring and the time often required to secure necessary approvals. Stakeholders will be watching closely as the company works towards fulfilling the conditions of this significant arrangement over the coming months.

Vedanta Resources, a global diversified metals and mining company, has announced plans to raise $500 million through a seven-year dollar bond issuance. This strategic move aims to refinance an existing high-cost private credit facility, marking a significant step in the company's ongoing debt management efforts.

Bond Issuance Details

The senior notes will be issued through Vedanta Resources Finance II and come with guarantees from the parent company, Vedanta Resources Limited (VRL), and its subsidiaries. These subsidiaries include Twin Star Holdings, Welter Trading, and Vedanta Holdings Mauritius II. The bonds are set to mature in October 2032 and have received preliminary ratings of B2 from Moody's and B+ from Fitch.

A consortium of major financial institutions, including Citigroup, Barclays, JPMorgan, Mashreq, SMBC, and Standard Chartered, will serve as joint global coordinators and lead managers for this bond issuance.

Debt Refinancing Strategy

The primary objective of this bond issue is to repay a private credit facility that Vedanta raised in December 2023, which is due for repayment in April 2026. This refinancing move aligns with Vedanta's broader strategy to optimize its debt structure and reduce financial costs.

Vedanta's Debt Reduction Progress

Vedanta Resources has made significant strides in reducing its debt burden:

• The company has cut its gross debt by over $4 billion, from $9.10 billion to $4.70 billion.
• This reduction has been achieved through a combination of refinancing, asset sales, and equity raises.
• The average bond maturity has been extended from three years to nearly five years.
• Currently, $1.20 billion in debt is due over the next 30 months.

Financial Maneuvers

Vedanta's financial strategy has included several key moves:

1. Raised $2.20 billion through new bank loans and rupee-denominated non-convertible debentures.
2. Reduced interest expenses by 130 basis points.
3. Deleveraged by raising $1 billion through a Qualified Institutional Placement (QIP).
4. Secured an additional $400 million through other sources.

These efforts demonstrate Vedanta's commitment to strengthening its financial position and optimizing its capital structure. The proposed $500 million bond issue is expected to further support the company's debt management strategy, potentially leading to improved financial flexibility and reduced interest costs in the long term.

As Vedanta Resources continues to navigate the global metals and mining landscape, this refinancing initiative may play a crucial role in positioning the company for future growth and stability.