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Newsletter | Vedanta’s challenges to escape debt trap; IT dept's new challan correction feature & more
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Newsletter | Vedanta’s challenges to escape debt trap; IT dept's new challan correction feature & more
Sep 11, 2023 3:21 AM

Here's a rundown of 11 significant news stories to keep you in the know:

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Sovereign Gold Bond series 2 opens for subscription: How to buy, comparison with other gold forms and more

Investors eyeing gold as an avenue for investment have an opportunity as the second tranche of the Sovereign Gold Bond (SGB) scheme for 2023-24 opened for subscription on Monday, September 11. This subscription window will remain open until Friday, September 15, providing a limited-time chance to invest in this government-backed scheme.

The issue price for this tranche has been firmly set at Rs 5,923 per gram of gold. However, those opting for online subscriptions can benefit from a Rs 50 per gram discount, making it an attractive proposition for tech-savvy investors.

Read here

Vedanta and Anil Agarwal face multiple challenges as company seeks to escape the debt trap

"My dream, my vision is in a few years, I will have a zero debt company."

Vedanta Resources Chairman Anil Agarwal envisaged this dream for his mining conglomerate during a townhall with CNBC-TV18's Nigel D'souza in May this year.

However, it is certainly not going to be an easy journey for the company or its promoter. The parent company faces repayment of notes worth nearly $2 billion in the financial year 2025. Including these bonds, the company is facing debt repayment worth $3.6 billion in the next financial year, according to Kotak Institutional Equities.

#TechTalks

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