Vedanta s dollar notes due this month were the most supportive of the firms liability management exercise, while the remaining three trade below the 80 cents on the dollar mark often considered indicative of distress. Still, the bond due in August 2024 rose 3.5 cents on the dollar in December to 66.4 cents, according to Bloomberg-compiled data.
Bondholders have until Jan. 2 to give an early consent on a plan to push out due dates on $3.2 billion in bond repayments, a move that prompted S&P Global Ratings in December to cut the company’s rating deeper into junk.
As of 30-Sep-2023, promoters held 0.0 per cent stake in the company, while FIIs held 7.82 per cent and domestic institutional investors had 0.83 per cent.