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Vedanta board approves ₹3,000 crore fundraise via NCDsVedanta plans to issue up to 3,00,000 NCDs with a face value of ₹1,00,000 each, aggregating up to ₹3,000 crore.By Meghna Sen  February 25, 2026, 1:03:09 PM IST (Published)2 Min ReadThe board of Vedanta Ltd, the Anil Agarwal-owned mining conglomerate, has approved a fundraise of up to ₹3,000 crore through non-convertible debentures (NCDs).

In an exchange filing on Wednesday, February 25, Vedanta said it has approved the issuance of unsecured, rated, listed, redeemable, non-convertible debentures on a private placement basis.

The company plans to issue up to 3,00,000 NCDs with a face value of ₹1,00,000 each, aggregating up to ₹3,000 crore.

In a separate development, brokerage firm BofA Securities upgraded Vedanta in its latest note released the same day.

The brokerage raised its rating on the stock to “buy” from “neutral” and increased its price target by 75% to ₹840 from ₹480.

The upgrade is driven by BofA’s bullish outlook on aluminium, supportive silver prices, and an attractive dividend yield of around 6%.

The brokerage also said that significant deleveraging at the parent company reduces the risk of any increase in the brand-fee rate on inter-corporate loans.

Factoring in higher aluminium forecasts, an improved fair value for Hindustan Zinc, a depreciation of the rupee against the US dollar, and a reduction in the holding company discount to 5-15%, BofA has raised its FY26-FY28 EBITDA estimates for Vedanta by 16-21%.

BofA’s ₹840 price target is the third-highest on the Street, after Citi (₹900) and Systematix Group (₹898).

The stock is tracked by 15 analysts, of whom 11 have a “buy” rating and four recommend “hold.” None currently have a “sell” rating on the stock.

Shares of Vedanta were trading 4.09% higher at ₹723.55. The stock has gained 20% so far in the first two months of the year.Continue ReadingTagsVedantaVedanta Share Price