Anil Agarwal-led Vedanta group gets shareholder nod to rejig capital

The development acquires significance since Vedanta's holding company, Vedanta Resources, will receive nearly 70 per cent of the dividend to be distributed

Anil Agarwal-led Vedanta group on Wednesday said that the firm’s shareholders had approved a proposal to transfer Rs 12,857 crore from its general reserve to its profit and loss (P&L) account.

The special resolution was put to vote at an extraordinary general meeting (EGM) on Tuesday, with 99.96 per cent shareholders voting in its favour, Vedanta said. The money will be utilised to create further value of shareholders, the company said. 

Analysts tracking Vedanta expect the firm to announce a special dividend in the coming months. Executives at the company were not immediately available for comment on this issue.

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