Vedanta to spend Rs 1,440 crore to acquire Meenakshi Energy
Multinational mining company Vedanta Limited is set to acquire debt-laden power company Meenakshi Energy. The group has placed a bid of Rs 1,440 crore for the firm. Vedanta said that Rs 312 crore is set to be paid upfront, while the balance of Rs 1,128 crore will be in the form of secured, unlisted non-convertible debentures (NCDs) issued by Meenakshi Energy, which will mature in equal installments over the next 5 years.
Also Read: Vedanta Invites Bids For Natural Gas