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Vedanta to raise 5B rupees via debt issue

Vedanta Ltd. on Dec. 14 announced plans to raise 5 billion Indian rupees via the issuance of secured, nonconvertible debentures.

The Vedanta Resources Plc unit obtained shareholder approval for the bond issue at a mid-July meeting. A board meeting is scheduled for Dec. 19.

As of Dec. 14, US$1 was equivalent to 64.23 Indian rupees.