Vedanta upsizes QIP to $1 billion on back of strong demand

In an exchange filing on Monday, the metals-to-oils conglomerate announced that its fundraising committee had approved the QIP's launch at a floor price of ₹461.26 per share Vedanta did not respond to ET’s queries. The company also added that it may offer a discount of not more than 5% on the floor price for the issue. The board of the natural resources major had, in May, approved fundraising of up to Rs 8,500 crore, which then got shareholder approval in June.