Anil Agarwal

Vedanta raises $500 mn via bond issuance to repay near-term obligations

Anil Agarwal-led Vedanta Resources Ltd (VRL) has raised 500 million dollars through bonds in October and will use the proceeds to repay near-term obligations. As per the letter to the bondholders, the company stated that "the average maturity of its debt portfolio is now over four years, and it has reduced its weighted average interest cost to single digits, reflecting a stronger, more resilient capital structure". The company said that it has completed "a 500 million dollar bond issuance, using proceeds to repay near-term obligations, including a 550 million dollar Private Credit Facility (PCF), in line with its deleveraging roadmap." With this, the Group now has no material maturities until FY27, ensuring a well-balanced liability structure, it said. The Group maintains robust liquidity, supported by dividend inflows from operating subsidiaries and healthy free cash generation, the company added. The company has tied up a 500 million dollar term loan facility with a consortium o

Vedanta extends demerger deadline to March 2026 amid pending approvals

Anil Agarwal-led Vedanta Ltd has pushed the deadline for its demerger to March-end next year as the approvals from the National Company Law Tribunal and government authorities are still pending, the company has said in a regulatory filing. The deadline was earlier extended from March 31, 2025 to September 30 this year. "Given that the conditions precedent in the Scheme, including approval of the National Company Law Tribunal, Mumbai Bench (NCLT) and approvals from certain government authorities are in the process of being completed, the board of the company and the resulting companies...have decided to extend the timeline for fulfilment of the conditions precedent from September 30, 2025 to March 31, 2026," Vedanta had said in a filing this week. The approval of the demerger proposal will pave the way for the company's various business verticals to become separate entities. Vedanta Resources CEO Deshnee Naidoo had earlier exuded optimism that the demerger of its Indian arm Vedanta

Vedanta plans bond sale to repay costly private debt, lower costs

Vedanta seeks to tap the dollar bond market as junk-rated Asian borrowing costs hit a four-year low, aiming to refinance private debt it borrowed at 18 per cent interest in 2023

Vedanta demerger faces delay as Centre objects, Sebi issues warning

Vedanta's plan to split into six listed entities has been delayed after the Centre objected and SEBI issued a compliance warning, intensifying regulatory scrutiny

Viceroy research vs Vedanta group: The 'Ponzi' row explained | JP Morgan | Vedanta share price

In the face of damaging allegations from American short-seller Viceroy Research, mining giant Vedanta has found an ally. Global brokerage JP Morgan has come to the defence of the Anil Agarwal

JP Morgan backs Vedanta after Viceroy report, says "not getting distracted"

Analysts at JP Morgan believe Vedanta is cheap within the Asian and emerging market (EM) metals and mining space

Anil Agarwal unveils 3D strategy to double Vedanta's business size

Vedanta Chairman Anil Agarwal unveils a 3D strategy - demerger, diversification, deleveraging - to double the company's size and unlock value, aiming to create $100-billion businesses across sectors

Who is Viceroy Research? The short-seller targeting Vedanta's parent

Shares of Vedanta tanked up to 8 per cent in Wednesday's intra-day trade on the BSE amid heavy volumes, after Viceroy Research's report.

Vedanta edges higher ahead of NCLT's decision on demerger scheme

Vedanta's plea to demerge into four distinct entities is listed for final approval before the NCLT on Wednesday; stock rises 1.1 per cent ahead of the tribunal's decision

Vedanta Chairman Agarwal calls for safeguard duty on aluminium imports

Vedanta Chairman Anil Agarwal urged the government to impose a safeguard duty on aluminium imports, citing the metal's strategic role and rising global trade tensions

Vedanta Q4 results: Consolidated net profit rises by 154% to ₹3,483 cr

The mining major's net sales jumped by 13.9 per cent to Rs 40,455 crore in the January-March quarter on a year-on-year basis (YoY)

Newly demerged Vedanta cos could grow into $100 bn each: Agarwal

Vedanta Ltd Chairman Anil Agarwal on Monday reaffirmed the company's commitment to unlocking value, saying the four new companies that will emerge from the demerger, have the potential to grow into USD 100 billion companies each. The company's proposed demerger will create four independent natural resource-focused entities with management structures, capital frameworks, and strategic priorities. In a letter to shareholders, Agarwal highlighted the need for pure-play businesses and how the proposed demerger will help Vedanta achieve this. Vedanta plans to split the mining conglomerate into different businesses with a view to simplify the group's structure and help manage its debt burden. Mining tycoon launched the plan to overhaul the business in 2023 after failing to take Vedanta private in 2020. According to Vedanta's demerger scheme, every Vedanta shareholder will receive 1 additional share in each of the 4 newly demerged companies on the completion of the demerger process. The

Vedanta promoters to retain over 50% stake in all demerged entities

Vedanta Resources Chairman Anil Agarwal says promoters will retain over 50% stake in each demerged entity; debt reduction to $3 billion targeted by FY27 without stake dilution

Goldman Sachs Asset exits Sterlite Tech, sells 2.13% stake for Rs 84 crore

Goldman Sachs Asset Management on Wednesday divested a little over 2 per cent stake in Anil Agarwal promoted-Sterlite Technologies for Rs 84 crore through an open market transaction. Goldman Sachs Asset Management through its affiliate Goldman Sachs Funds - Goldman Sachs India Equity Portfolio sold 1.03 crore shares, amounting to a 2.13 per cent stake in Sterlite Technologies, according to BSE data. The shares were offloaded at an average price of Rs 81.04 apiece, taking the deal value to Rs 84.10 crore. Meanwhile, Bandhan Mutual Fund bought 60.11 lakh shares or 1.23 per cent stake in Sterlite Technologies for Rs 48.69 crore. The shares were acquired at an average price of Rs 81 apiece. Details of the other buyers of Sterlite Technologies' shares could not be ascertained on the BSE. The stock of Sterlite Technologies fall 4.02 per cent to close at Rs 80.29 apiece on the BSE.

Vedanta declared preferred bidder for diamond block in Madhya Pradesh

It said it is the highest bidder with a final price offer of 1.10 per cent

Anil Agarwal's Vedanta seeks top talent for newly formed companies

Co has seen slew of high-level exits

Hindustan Zinc shares up 13% in two weeks, rally likely to continue

Company's cost-saving measures and debt reduction expected to boost company's margin

Vedanta aims to increase production across segments: Chairman Anil Agarwal

Vedanta Chairman Anil Agarwal on Saturday said the metal and mining conglomerate looks to increase production across segments including crude oil and zinc. "We are going to produce five hundred thousand barrels of oil and gas...so many other things they are doing, but these are the major thing for me to do..." Agarwal said at the HT Leadership Summit 2024 here. He also termed the closure of Tuticorin copper plant in Tamil Nadu as one of his smallest failures as a businessman. "Tuticorin is one of the smallest failures. More failure you have, the more success you will get. This (failure) is the first ladder for your success," Agarwal said remembering the incidents that led to the closure of the copper unit. In the near future, Vedanta is aiming to double the production levels of its subsidiary Hindustan Zinc, increase oil production at Cairn Oil & Gas to 3 lakh barrels of oil equivalent per day, and increase the capacity at its aluminium smelter to 3 million tonnes per annum, ...

Vedanta Resources debt reduced by $4.7 bn in 2 years, says Anil Agarwal

Debt at Vedanta Resources - the parent firm of the Mumbai-listed mining conglomerate Vedanta Ltd - has been cut by USD 4.7 billion in two years as financial discipline helped deleverage the group, its chairman Anil Agarwal said. In a letter to shareholders, he said Vedanta Ltd delivered its highest-ever EBITDA of Rs 20,639 crore in the first half of the current fiscal year as a result of "focus on achieving higher production levels, driving operational excellence, and successfully navigating a dynamic global environment". Vedanta's aluminium and zinc production volumes have reached record levels. "In the near future, we are aiming to double the production levels at our subsidiary, Hindustan Zinc Ltd, increase oil production at Cairn Oil & Gas to 3 lakh barrels of oil equivalent per day, and increase the capacity at our aluminium smelter to 3 million tonnes per annum," he said. Additionally, Vedanta remains committed to becoming a greener and more sustainable company by producing ..

After KCM revival, Vedanta seeks greener pastures in India, abroad

The conglomerate looks to start production from its Zambia mines by FY25 end, with plans to supply the Indian market