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Vedanta Ltd on Wednesday said it has incorporated a wholly-owned company Vedanta Property Platforms Ltd (VPPL) to foray into real estate sector. VPPL will serve as a strategic vehicle for Vedanta's real estate business and related activities. The move is aimed at monetising surplus land and non-core property assets and creating a dedicated structure for potential joint ventures and asset-light initiatives to fund expansion in its core metals and energy businesses. In a filing to BSE, the company said VPPL was incorporated in Mumbai, Maharashtra, on June 22. The subsidiary will serve as a strategic platform for undertaking real estate business and ancillary activities. It has an authorised capital of Rs 1 lakh, comprising 1 lakh equity shares of Rs 1 each. Its subscribed capital also stands at Rs 1 lakh. Vedanta has subscribed to 100 per cent of the equity share capital of the company through a cash consideration of Rs 1 lakh, making VPPL a wholly-owned arm. As the company has bee
Vedanta Chairman Anil Agarwal on Monday hinted at a possible overseas relisting of parent Vedanta Resources and laid out an ambitious expansion roadmap across businesses, saying each vertical has the potential to become a USD 100 billion opportunity over time as the group scales up operations in metals, mining, oil and gas, power and critical minerals. Agarwal said relisting of Vedanta Resources, which was delisted from the London Stock Exchange, is not an immediate plan but may complete in three years time. "I'm very pleased, we have delisted our company in London, which was a FTSE 100 company. It's (listing) not on the card, but there is a potential that we can list, relist that company, maybe in America, maybe somewhere else, can create a phenomenal value," Agarwal said in an interview with PTI. He also said that the group company is currently having a revenue of USD 23-24 billion, and aims to take it to USD 50 billion. On Monday, Vedanta group's four demerged entities -- Vedant
Vedanta group's four demerged entities -- Vedanta Aluminium Metal, Vedanta Power, Vedanta Oil and Gas and Vedanta Iron And Steel -- made their stock market debut on Monday. Shares of Vedanta Aluminium Metal began trading at Rs 527 and further hit a high of Rs 538 on the BSE. Vedanta Power listed at Rs 41.30 and further climbed to Rs 43.35. Shares of Vedanta Oil and Gas started trading at Rs 39 and scaled to a high of Rs 40.95. Vedanta Iron And Steel shares listed at Rs 22.25. Later in the trade, shares of Vedanta Aluminium Metal were quoting lower from their opening price, Vedanta Oil and Gas and Vedanta Iron And Steel also traded lower. However, Vedanta Power was trading 3.63 per cent higher from the opening price. Vedanta Aluminium Metal's market valuation stood at Rs 1,95,773.58 crore, while Vedanta Power's mcap was Rs 16,736.46 crore on the BSE. Vedanta Oil and Gas commanded a market valuation of Rs 14,487.99 crore and Vedanta Iron And Steel's mcap was Rs 8,231.37 crore. Al
Vedanta group's four demerged businesses are expected to list on the Bombay Stock Exchange and National Stock Exchange on Monday, sources said. Besides Vedanta Ltd, which is already listed, the shares of four newly created entities --Vedanta Aluminium Metal (VAML), Vedanta Oil & Gas (VOGL), Vedanta Power and Vedanta Iron & Steel (VISL) -- will begin trading on Indian stock exchanges. The much-awaited demerger is likely to unlock substantial value for shareholders since each company will now operate independently and raise capital as per its business plans, while giving investors an opportunity to invest in a specific sector. Vedanta's demerger was approved by the National Company Law Tribunal in December last year. Under the 1:1 approved demerger scheme, shareholders will receive one share of each demerged company for every one share held in the currently listed Vedanta Ltd. During an investors' call after the fourth quarter financial results, Vedanta Resources CEO Deshnee ...