Apart from extending the inter company loan and revising terms, on Friday, the management informed investors that the brand fee or royalty from Vedanta Limited has increased from 2% to 3%, and the revised rate will remain fixed for six years but may be reviewed periodically, the company management informed analysts and investors during the earnings call on Friday.
Vedanta recently assured investors it has a "tremendous asset" base, which delivers high cash flows. With current repayment, encumbrance has been released.
Vedanta Resources had said it has pre-paid all of its debt that was due for repayment till March 2023, deleveraging by $2 billion in the past 11 months.
New Delhi, Mar 15: Vedanta Ltd on Wednesday said that it has repaid USD 100 million to Standard Chartered Bank through release of encumbrance on March 10. Vedanta Resources Ltd has earlier said it has enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns around its financial position. Vedanta Resources is the majority owner of Mumbai-listed mining and oil & gas company Vedanta Ltd. “The earlier disclosure was made pursuant to […]