Please refer the enclosed file.
Awaiting price reaction for this filing.
Vedanta Limited has filed the final monitoring agency report from ICRA for its Qualified Institutions Placement (QIP) completed in July 2024. The QIP raised Rs. 8,500 crore through 19.31 crore equity shares issued at Rs. 440 per share. Of this, Rs. 6,375 crore was earmarked for repaying borrowings (including those of subsidiary THL Zinc Ventures) and Rs. 2,125 crore for general corporate purposes (GCP). As of March 31, 2025, Rs. 8,435.50 crore has been utilized, with the remaining Rs. 64.50 crore parked in a fixed deposit with SBI at 6.85%, maturing June 25, 2025. The GCP funds were used for repaying intercompany loans (Rs. 1,600 crore), ECBs (Rs. 212 crore), term loans (Rs. 78.13 crore), and interest on borrowings (Rs. 170.37 crore). No deviations from the disclosed objects were observed.
The report confirms that Vedanta has used the QIP proceeds as planned, primarily to deleverage. This is a neutral-to-positive disclosure for shareholders as it shows disciplined use of capital and ongoing debt reduction, though no new financial details beyond the QIP monitoring are revealed.