“…the meeting of the board of directors of the company is proposed to be scheduled on Monday to consider and approve the third interim dividend on equity shares, if any, for the financial year 2024-25,” said the Anil-Agarwal-led metals-to-mining conglomerate in a regulatory filing to the BSE.
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Vedanta Ltd. had approved a second interim dividend of ₹4 per share for the current fiscal year in July. The mining major has a significant fundraise worth ₹30,000 crore through a qualified institutional placement (QIP), offer for sale (OFS) and dividend to pursue further deleveraging and growth.
Proceeds from Vedanta Ltd’s ₹8,500-crore QIP, Hindustan Zinc’s OFS of ₹3,200 crore, and ₹5,100 crore from the second interim dividend, coupled with existing cash reserves of ₹13,000 crore, will create a reserve of ₹30,000-crore after the conglomerate receives all the funds.
