Vedanta Resources has decided to postpone its plans for a dollar bond sale due to the current market volatility caused by the indictment of Gautam Adani, the founder of Adani Group.

The mining company, which is controlled by Anil Agarwal, had previously engaged in discussions with investors regarding a potential debt offering. However, it is now reevaluating the timing of the bond sale in light of the recent market turmoil.

Sources suggest that Vedanta may proceed with the bond deal next week if yields stabilize. Adani's cancellation of a recently priced dollar bond sale has further contributed to the market instability, resulting in a decline in both Adani's shares and bonds, as well as underperformance of Indian equity benchmarks. This situation aligns with the common practice of borrowers delaying bond offerings during periods of market instability.