Page 4 - Vedanta Anil Agarwal

Anil Agarwal's Vedanta pledges almost its entire stake in Hindustan Zinc

Vedanta created a pledge of 3.3% of its total equity or 13.94 crore shares in favour of Axis Trustee Services on May 23

With Adani, Agarwal under scrutiny, India's privatisation drive stalled

Of three dozen companies originally identified for sale, officials are now left with a list of just 17 - 10 unlisted and 7 listed - largely because of legal and insolvency issues.

India renews call for chipmakers as Anil Agarwal's $19 billion plan drags

India is joining countries including the US in trying to boost chip output to reduce reliance on expensive imports and dependence on Taiwan and China

Vedanta resources repays $800 million loans to Standard Chartered

The company had paid all loans and bonds due last month, cutting its gross debt to $6.8 billion, it said in a statement in April

Vedanta chief makes zero debt pledge, says very comfortable servicing debt

Mining mogul Anil Agarwal has said his Vedanta group has ample cash flow to service all its debt repayment obligations and that it aims to become a "net zero debt company" in 2-3 years. Agarwal said questions over Vedanta's debt servicing ability are "absolutely irrelevant" as the group will make USD 9 billion of profits next year on revenue of USD 30 billion, which would be sufficient to meet all obligations. The comments by the former scrap metal trader turned industrialist come at a time when scrutiny of highly leveraged Indian conglomerates grows following a US short seller attack on the Adani group. "We have the lowest debt in the world for a group of our size," Agarwal, founder, and chairman of Vedanta Resources, told PTI in an interview here. And the debt is a result of investing billions of dollars across businesses, he said. "Total debt in the company is USD 13 billion. And we have a profit this year of USD 7 billion. Next year our revenue would be USD 30 billion and we wi

Weekend Bites: Pause not pivot, GDP, Doge, and litti-chokha for thought

In which we munch over the week's platter of news and views

Anil Agarwal's $19-bn chipmaking plant dream at risk as hurdles mount

Winning government funding is key to fulfilling Agarwal's chip dream, given his broader empire is facing intensifying financial strain

CRISIL revises outlook on Vedanta's loans from 'stable' to 'negative'

The change reflects the possibility of higher-than-expected financial leverage and lower financial flexibility with reducing ratio of cash surplus to one-year maturities for FY23 and FY24

Vedanta dividend: Decision on fifth payout today; check all details here

Vedanta dividend 2023: The company has already given four interim dividends totalling Rs 81 so far in the current financial year

Windfall Tax: Vedanta cuts $91 mn from govt's gains to make up for tax paid

In signs of protests against the 9-month-old windfall tax, mining mogul Anil Agarwal's Vedanta Ltd has withheld about USD 91 million from the share of profit due to government from its oil and gas fields, to make up for the additional tax outgo, according to sources and correspondence on the issue. India first imposed windfall profit tax on July 1, 2022 joining a growing number of nations that tax super normal profits of energy companies. But the levy of Special Additional Excise Duty (SAED) on locally produced crude oil was seen by producers as violation of the contract which provides fiscal stability. The SAED initially was Rs 23,250 per tonne (USD 40 per barrel) and in fortnightly revisions brought down to Rs 3,500 per tonne. This is in addition to the 10-20 per cent royalty on price of oil and gas realised and an oil cess of 20 per cent. On top, the government is also entitled to a pre-decided share of profit after expenses are deducted from revenue earned from sale of oil and .

Anil Agarwal weighing Vedanta stake sale as last resort, says report

Agarwal is evaluating the possibility of divesting a less than 5% stake in the Mumbai-listed company, said the people, who asked not to be identified as the information is private

Vedanta's plan to trim debt hits roadblock as govt opposes Hind Zinc deal

The government has threatened to take legal action to stop Agarwal's Vedanta Group from selling the unit to its subsidiary Hindustan Zinc Ltd., which is around 30% state-owned

Vedanta's Cairn Oil & Gas announces appointment of Nick Walker as new CEO

Walker comes into Cairn Oil & Gas after Prachur Sah quit the firm to join Indus Towers Ltd as managing director and CEO effective January 3, 2023

'Vedanta to finalise $20-bn Indian chip, display unit site by mid-June'

Chairman Anil Agarwal said on the sidelines of the annual World Economic Forum the first phase of Vedanta's project will entail an investment of $2 bn

Vedanta to invest up to $20 bn in chip venture in India, roll out by 2025

Vedanta's group firm Avanstrate, which will spearhead the semiconductor business, expects to roll out electronic chips and displays from Indian manufacturing plants by 2025

Vedanta joins hands with Foxconn to manufacture semiconductors in India

Vedanta is the first company to make the announcement to invest in semiconductor manufacturing after the government announced a Rs 76,000-crore programme to boost electronic chip and display ecosystem

Anil Agarwal joins Centricus for $10-bn fund to invest in PSU divestments

Metals and mining magnate Anil Agarwal on Friday announced teaming up with London-based firm Centricus to create a USD 10-billion fund that will invest in stake sale of public sector undertakings. Centricus is a global investment firm. Agarwal, who is the executive chairman of Vedanta Resources said in a tweet, "Teamed up with London-based firm Centricus to create a USD 10-billion fund that will invest in stake sale of public sector companies. We are excited with the Union Budget's strong focus on disinvestment and would like to participate in the exercise." He further tweeted that "@Hindustan_Zinc & @Balco_India exemplify our track record of turning around companies post disinvestment without retrenching a single employee." Vedanta Resources Ltd is a globally diversified natural resources company.

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Restarting stalled mines can help achieve $5 trn economy target: Agarwal

Metals and mining magnate Anil Agarwal on Tuesday said around 500 mines in the country are currently not operational due to various disputes

EdelGive Hurun ranks Vedanta's Anil Agarwal among top India philanthropists

Agarwal's contribution this year has risen by 90 per cent from previous