Vedanta could be able to raise the money by selling shares through a process called qualified institutional placement.

According to persons with knowledge of the situation, Vedanta Ltd., the Indian commodities billionaire Anil Agarwal's company, is thinking of selling shares as soon as the upcoming weeks, with the potential to generate up to 85 billion rupees ($1 billion).

Furthermore, according to the sources, Vedanta is collaborating on the offering with advisers such as Citigroup Inc. and Axis Capital, a unit of Axis Bank Ltd. The persons, who wished to remain anonymous due to the confidentiality of the material, said that it has begun to gauge interest from possible investors, including Middle Eastern funds.

Vedanta has seen a 78% increase in its share price this year, valuing the business at almost $20.6 billion.

If shareholders give their approval, Vedanta may raise the money through a kind of share sale called a qualified institutional placement, according to the sources. 

The timing of the deal might alter, but it is being discussed whether to start it soon in order to capitalize on the Indian equities surge, according to the people. The last seven months have seen an approximately 20% increase in the BSE Sensex.