Vedanta parent further reduces gross debt by a billion dollars

91% of Vedanta's holding in Hindustan Zinc is now pledged

"During the balance of FY24, we believe that strong operational performance from our world class asset base coupled with robust commodity prices will lead to further deleveraging at Vedanta," the company has said.

S&P Global Ratings had highlighted Vedanta's debt servicing obligations of around $3 billion, including interest and inter-company loans.

Shares of Vedanta are trading 0.5 percent lower at Rs 275.40. The shares have slipped 13 percent year-to-date.