Vedanta to raise Rs 2,500 crore through debt securities

PharmEasy was supposed to raise equity of around Rs 1,000 crore, or about $120 million, linked to its burn rate velocity. It has failed to do that after trying for a year and postponing its initial public offering (IPO). Negotiations are on to restructure terms or opt for capital raise. Goldman Sachs owns all assets as collateral.

Vedanta's earnings before interest, tax, depreciation and amortisation fell 22% on year to ₹35,241 crore in FY23 on lower prices of aluminum, lead and silver and a rise in raw material costs though company managed to better its operational performance.

India's Vedanta (VDAN.NS) is confident of meeting its debt maturities of $2.7 billion this fiscal year and committed to bringing down its debt, its CFO said on Monday.

Indian mining company Vedanta Resources, which is rated junk by credit agencies, faces a record annual bill of $2bn due in 2024 and another $500m bond payment on 31 May. While the May bond is trading close to par, pricing data on other bonds suggest concerns over repayment. Vedanta's reliance on dividend payments from profitable subsidiaries has caused cash reserves to dwindle to the lowest level in at least a year, while a drop in prices for its metals could also impact profitability. Vedanta has borrowed $250m to refinance debt and signed a five-year loan for around $850m with JPMorgan and Oaktree.

India Business News: NEW DELHI: Vedanta Resources Ltd (Vedanta) on Thursday said it generated an EBITDA of $4.

Company, subsidiary to raise funds to partly repay ₹8,000 REC loan

Vedanta reported a 67.5% YoY decrease in Q4 net profit at Rs 1,881 crore as revenue from operations dropped 5.4% to Rs 37,225 crore. The EBITDA margin was reduced to 29% from 39% YoY while the consolidated quarterly EBITDA was at Rs 9,362 crore. FY23 EBITDA fell by 22% at Rs 35,241 crore while ROCE at Q4 was at 21%. Vedanta's gross debt stood at Rs 66,182 crore with net debt of Rs 45,260 crore while cash and cash equivalents position remained healthy at Rs 20,922 crore. Vedanta's shares rose 2.3% ending at Rs 275.10 on the BSE after the Q4 results announcement.

Pays all its maturing loans and bonds due in May and June

International Business News: Berkshire Hathaway's cash pile has reached a record high of $157.2 billion, largely due to high interest rates and a lack of attractive investment opp

The company has repaid three facilities, which were taken from Standard Chartered Bank, London and Hong Kong, VRL said in a stock exchange update.