Vedanta’s Next Big Step: NCD Fundraise on Cards; Stock Soars 52% in 6 Months; Is More Upside Ahead?
Business
Vedanta Limited has announced that it will hold a Committee of Directors meeting on the upcoming Wednesday, February 25, to consider the issuance of Non-Convertible Debentures (NCDs) on a private placement basis. This is a part of the company’s routine refinancing strategy in compliance with SEBI regulations.
In its regulatory filing, Vedanta stated, “in terms of Regulation 29(1) and (2) read with Regulation 50(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company will convene a meeting of its duly constituted Committee of Directors on Wednesday, February 25, 2026. The agenda of the meeting is to consider a proposal for the issuance of Non-Convertible Debentures via private placement.”
The February 25 board committee meeting will focus solely on approving the terms and structure of the proposed NCD issue. There are no other items such as dividend declaration, bonus shares, or quarterly results, listed for discussion.
Vedanta NCD Issue 2026 Details
Vedanta has used the NCD route earlier as well to raise funds. In 2025, the company raised Rs. 5,000 crore through NCDs to manage debt repayment and support operations.
The fresh NCD issuance aligns with the company’s ongoing debt restructuring and refinancing plans, especially as it moves forward with its demerger strategy. Raising funds through non-convertible debentures helps companies refinance existing debt at potentially better terms without diluting equity.
Vedanta Share Price Performance
Vedanta shares ended at Rs. 682.20 per share, up 0.89% on Friday. The stock has delivered an impressive 52% return in the last six months.
Last month, Vedanta announced its Q3FY26 Results, Anil Agarwal-led mining and metals major reported a strong December quarter with 70% YoYJump in Net Profit, which stood at Rs. 4,876 crore, compared to Rs. 2,868 crore in the same quarter last year.
Revenue from operations increased 10.2% YoY to Rs. 38,526 crore, up from Rs. 34,968 crore in the corresponding quarter of the previous financial year.
The company also reported its EBITDA of Rs. 11,284 crore, with a 30% YoY growth. EBITDA margin stood at 34%, expanding by 517 basis points compared to last year.
Because of this outstanding performance, Geojit Equity Research assigned a BUY rating to the stock. The Brokerage Report dated 11th Feb stated, “Vedanta’s earnings saw robust growth in Q3FY26, supported by operational excellence and key strategic initiatives during the quarter. The approved demerger scheme is expected to unlock significant value and enhance the agility of individual business segments. Hence, we reiterate our BUY rating on the stock with a rolled-forward target price of Rs. 791, based on 5.2x FY28E EV/EBITDA. “
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