Vedanta Limited Successfully raises ₹ 8500 Crores in its First Ever Qualified Institutional Placement (“QIP”)

· Single largest ever equity raise through the QIP route in India’s metals and mining sector.

· Received overwhelming response from global and domestic investors.

Bengaluru, 22 July 2024: Vedanta Limited (the “Company” or “Vedanta”) announced the successful completion of its maiden QIP through which it has raised ₹ 8,500 Crore.

Vedanta QIP was launched on July 15, 2024 and was closed on July 19, 2024. Vedanta received applications for equity shares of ~2.6x of the offer size from marquee domestic mutual funds, foreign institutional investors, large family offices and multi strategy funds.

Speaking on the occasion, Vedanta Chairman Anil Agarwal said, “The overwhelming response to the Vedanta QIP underscores the huge confidence that the global investor community has in Vedanta – our unique set of irreplaceable world-leading assets, our quest for operational and cost excellence, and the solidity of our strategic future growth projects. We remain closely aligned with the goals of ensuring India’s self-reliance and security in the area of critical minerals and energy, while contributing significantly to the nation’s economic prosperity and the creation of shareholder value.”

A total number of 19,31,81,818 Equity Shares were allocated at ₹ 440 per Equity Share through the QIP. Some of the marquee investors that have been allotted equity shares through the QIP include Abu Dhabi Investment Authority (ADIA), Goldman Sachs AMC, Nippon Mutual Fund, SBI Mutual Fund, UTI Mutual Fund, ICICI Mutual Fund, Aditya Birla Mutual Fund and Mirae Mutual Fund.

The proceeds from the QIP will be used to continue to de-leverage Vedanta Limited balance sheet and to help deliver the Company’s $10 billion EBITDA targets in the near term.