Vedanta lines up FY’s first rupee debt sale, bankers say
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In March, Vedanta raised ₹2,575 crore through three-year bonds at an annual coupon of 8.95%.
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DANISH SIDDIQUI
According to two merchant bankers, Vedanta is set to debut its first rupee bond issuance of the year ahead of the central bank’s monetary policy announcement scheduled for early next month.
The mining company aims to secure ₹3,500 crore ($364.75 million) via three-year bonds, with an expected coupon rate of approximately 8.75 per cent, the sources noted.
As these individuals were not authorized to disclose such information, they requested anonymity. Vedanta has not yet responded to a Reuters inquiry sent outside of business hours.
“Vedanta has already coordinated with several foreign banks and mutual funds, and the issuance process is expected to conclude within the next three to four days,” one banker stated.
The proposed bonds currently hold an “AA+” rating from both Crisil and Icra.
The deal includes a step-up clause: if the credit rating drops from “AA+” to “AA–“, the coupon will increase by 50 basis points. For every subsequent notch below “AA–“, an additional 25 bps will be applied.
This follows the company’s previous successful fundraising in March, where it raised ₹2,575 crore through three-year bonds carrying an 8.95 per cent annual coupon.
Published on September 25, 2026
