Vedanta Seeks Rs 8,500 Crore Fundraise: Shareholder Approval Needed

New Delhi, May 22 (PTI) Mining billionaire Anil Agarwal-led Vedanta Ltd has sought shareholders' nod to raise up to Rs 8,500 crore through issuance of securities.

"We hereby submit a copy of Postal Ballot Notice....seeking approval of the Members of the company in respect of...issuance of securities up to Rs 8,500 crore," the company said in a filing on the BSE.

The e-voting for postal ballot will start at 9 am on Thursday and will end at 5 pm on June 21, the filing said.

The company's board had earlier approved raising funds via instruments like American depository receipts, global depository receipts and foreign currency convertible bonds.

Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across countries like India, South Africa, Namibia, Liberia and UAE.