Vedanta promoters pledge shares to raise Rs 6,000 crore
Holding companies of Vedanta Ltd have raised $800 million (about Rs 6,000 crore) by pledging shares in the company, according to a stock exchange filing.
Promoter group firms pledged 242.26 crore or 65.18 per cent shareholding in Vedanta Ltd in three facility agreements to raise the money, a Vedanta Ltd’s filing showed.
In the first financing deal, Twin Star Holdings Ltd entered into an agreement with Standard Chartered Bank, London to avail of an aggregate amount of $400 million.
In the second, Vedanta Netherlands Investments BV secured $150 million from Standard Chartered Bank, London.
Vedanta Resources in the third facility raised $250 million from Standard Chartered Bank, Hong Kong.
