Shares of Vedanta surged more than 2% on Friday after the company announced key financial decisions.
On Thursday, Vedanta Ltd said its board approved raising up to ₹8,500 crore. The company, led by Anil Agarwal, mentioned that a committee of directors will decide on the structure of the fundraise, which may include the issue of equities and other financial instruments.
Additionally, Vedanta declared its first interim dividend for the financial year 2024-25 at ₹11 per equity share, totaling ₹4,089 crore. The record date for the dividend payment is set for Saturday, May 25, 2024, with the payment to be made within the legally prescribed timelines.
As of 12:25 pm, Vedanta shares were trading 2.34% higher at ₹443.20 on the NSE.
“First Interim Dividend of Rs 11 per equity share on the face value of Rs 1 per equity share for the Financial Year 2024-25 amounting to c. Rs 4,089 Crore,” the company said in a BSE filing.
