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Who is Anil Agarwal

Anil Agarwal

About Anil Agarwal

Who is Anil Agarwal

Anil Agarwal is the chairman of Vedanta Resources Plc, a company he founded in 1976. The company started as a cable manufacturer and went on to be listed in the London Stock Exchange in 2003. Agarwal, however, took the company private on October, 2019. 
Agarwal controls Vedanta through Volcan Investments, a holding vehicle with a 100 per cent stake in the business.
 
Agarwal's journey from a scrap dealer to a tycoon
 
Born in 1954 in Patna, Agarwal rose from running a tiny scrap metal business four decades back to becoming one of the India's wealthiest tycoons with a business empire spanning across mining and petroleum.
 
Agarwal began trading in scrap metal in mid-1970s. He acquired Shamsher Sterling Corporation in 1976. Ten years later, he set up Sterlite Industries, which became the first private sector company in India to set up a copper smelter and refinery in 1993. He ventured into mining a few years later and acquired 51 per cent stake in Bharat Aluminium Company (BALCO) and a majority share (nearly 65 per cent) in state-run HZL (Hindustan Zinc Limited).
 
In 2003, Agarwal incorporated Vedanta Resources in London to access international capital. The firm is a globally diversified natural resources conglomerate, with interests in zinc, lead, silver, copper, iron ore, aluminium, power generation, and oil and gas.
 
Retirement and succession plan
 
Agarwal in 2012 indicated that he would in 3-4 years time step back from leadership and take a mentoring role as non-executive chairman. But in January 2019, he said he has no immediate plans to retire or take a non-executive role at Vedanta Group.
 
He also ruled out someone from his family succeeding him.
 
Philanthropy
 
In 1992, Agarwal created the Vedanta Foundation to carry out philanthropic programs and activities. He has pledged to donate 75 per cent of his family’s wealth to charity, saying he was inspired by Bill Gates.

Latest Updates on Anil Agarwal

Vedanta going ahead with demerger of businesses, says Anil Agarwal

Each demerged entity, he said, will plan its own course but follow Vedanta's core values, its enterprising spirit and global leadership

Updated On : 10 Jul 2024 | 5:34 PM IST
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Vedanta group chairman Agarwal, Odisha CM discuss areas of collaboration

During the meeting, Agarwal reiterated the group's commitment to the progress of the state

Updated On : 06 Jul 2024 | 8:33 PM IST
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Court approves billionaire Anil Agarwal's plan to reclaim Zambia mine

To get access to the mine again, Vedanta now needs to follow the court ruling by releasing $250 million to settle debts that KCM owes to contractors and suppliers

Updated On : 29 Jun 2024 | 2:32 PM IST
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Vedanta mulls first dollar bond sale of $500 mn in debut overseas issuance

The company is also exploring other avenues of fundraising, including equity sales and local currency loans from domestic banks, the people said

Updated On : 24 Jun 2024 | 12:06 PM IST
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Vedanta target price raised 15%; M&M stock surges 91% in 5 months

The Anil Agarwal group co value has risen by over 70 per cent this year. Analysts say operational efficiencies, cost reduction, improved operating profit, and proposed demerger have underpinned gains

Updated On : 18 Jun 2024 | 10:21 PM IST
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Anil Agarwal's Vedanta considering $1 bn share sale in coming weeks

Shares of Vedanta have gained 78% this year, giving the company a market value of about $20.6 billion

Updated On : 27 May 2024 | 10:47 PM IST
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Anil Agarwal-led Vedanta's board approves fundraise of up to Rs 8,500 cr

This is the second time that the company is raising funds in the current fiscal year. Last month, it said it would raise up to $300 million through debt securities

Updated On : 16 May 2024 | 11:20 PM IST
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Anil Agarwal's Hindustan Zinc to pay $506 mn dividend to ease debt burden

Agarwal is also planning to split the group into six listed companies by March 2025 to unlock value

Updated On : 07 May 2024 | 10:35 PM IST
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Vedanta Group planning to invest $20 bn in India in 4 years: Anil Agarwal

The investments will be focused on technology, electronics, and glass businesses apart from the other activities that the group is engaged in, Agarwal told reporters here

Updated On : 01 May 2024 | 9:32 PM IST
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FY25 will be a transformative year for Vedanta on many fronts: Anil Agarwal

"These include further deleveraging (parent) Vedanta Resources by $3 billion in the next 3 years and achieving an annual group EBITDA of $7.5 billion within 2 years," he said

Updated On : 17 Apr 2024 | 10:51 PM IST
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Ex-BofA veteran overseeing Vedanta Group's restructuring steps down

Davis, who was named as president for strategy at Vedanta Resources Ltd. last year, was working closely with the group's lenders and shareholders

Updated On : 04 Apr 2024 | 10:06 AM IST
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Vedanta gains 14% in five sessions. Here are four factors fuelling rally

Commodity major's stock has hit its highest level since February 2023

Updated On : 03 Apr 2024 | 7:45 PM IST
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Govt rejects Hindustan Zinc's plans to split company into different units

Vedanta has a 64.9% stake in Hindustan Zinc

Updated On : 22 Mar 2024 | 2:06 PM IST
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Cairn gave up right to claim interest: Vedanta to appeal against Sebi order

"Vedanta Ltd will appeal the Sebi order before the appropriate forum," the firm said in a statement

Updated On : 13 Mar 2024 | 11:27 PM IST
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SC suggests expert panel to explore restart of Vedanta's Sterlite Copper

Committee to have experts from the field of environment

Updated On : 14 Feb 2024 | 11:45 PM IST
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Vedanta's demerger process to be completed in next 9-12 months: Official

In an interview to PTI, John Slaven, CEO of aluminium business of Vedanta, said, "We are working very actively in securing the successful demerger of the aluminium business."

Updated On : 12 Feb 2024 | 11:59 AM IST
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Vedanta chairman Anil Agarwal outlines $4 bn plan to double oil production

The company is pushing ahead with the investment undeterred by concerns around debt levels at parent Vedanta Resources

Updated On : 06 Feb 2024 | 11:14 PM IST
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Vedanta Q3FY24 results: Net profit falls over 18% to Rs 2,013 crore

Vedanta Q3 results: The revenue of the company was up 4 per cent to Rs 34,968 crore during the quarter

Updated On : 25 Jan 2024 | 4:45 PM IST
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Majority bondholders have consented to restructuring: Vedanta Resources

The company said 97.78 per cent, 98.69 per cent, 99.6 per cent, and 99.12 per cent of the four series of bonds respectively have consented in favour of the company's proposed restructuring

Updated On : 03 Jan 2024 | 7:55 PM IST
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Vedanta Resources faces investor reckoning over $3.2 billion of bonds

Vedanta needs a green light from at least two-thirds of the bondholders in each of the three securities to proceed with the plan. A holder meeting will be held on Jan. 4

Updated On : 02 Jan 2024 | 7:59 AM IST
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