Vedanta Resources

S&P raises Vedanta's outlook to 'positive' on strong earnings, lower costs

S&P Global Ratings has upgraded its rating outlook on Vedanta Resources to 'positive' from 'stable'. In a statement, the rating agency said it has also affirmed the issue rating of 'B' on the Vedanta Resources' senior unsecured notes. S&P has cited factors like a timely ramp-up of Vedanta Resources' recently commissioned facilities in the aluminium business, which will improve the company's cost structure and support its earnings and cash flow. It has also noted the lower interest expenses at the holding company level, that will aid in deleveraging the balance sheet. "The positive rating outlook reflects the potential for an upgrade if Vedanta Resources continues its track record of reducing debt at the holding company and operating at a lower consolidated leverage, even as it pursues growth opportunities. "This could materialise as the company improves its cost structure from deeper backward integration. In our base case, we see a path for the company's FFO-to-debt (funds ...

Vedanta Resources to invest $1.5 billion to launch CopperTech in US

Vedanta Resources will invest $1.5 billion to form CopperTech Metals in US, expanding copper output from Zambia's Konkola Copper Mines to strengthen America's energy and infrastructure supply chain

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 Resources' $500 mn bond issue gets 3 times oversubscription

Mining conglomerate Vedanta Resources has raised USD 500 million through the sale of a seven-year US dollar-denominated bond issue, which was oversubscribed three times. Vedanta Resources Finance II plc, a subsidiary of Vedanta Resources, said in an exchange filing that its USD 500 million bond issue attracted bids exceeding USD 1.6 billion, more than triple the issue size. The net proceeds from the offering will be used to repay existing debt and for general corporate purposes. With this offering, Vedanta has raised USD 3.6 billion from international bond markets in the last 14 months and, in the process, ensured a spread-out debt maturity profile. "The bonds received final orders of over USD 1.6 billion, recording more than 3x oversubscription from existing as well as a new set of investors across APAC, EMEA and the US, with 97 per cent participation from asset managers/fund managers, highlighting the confidence of investors in the Vedanta story," the statement said. The final .

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

Singapore police review Viceroy complaint on Vedanta's dividend funding

The Singapore police are reviewing a complaint by short seller Viceroy Research, which claims Vedanta Ltd used a $900 million loan and accounting tactics to fund its 2024 dividend payout

Vedanta bags 152 hectares Punnam manganese block in Andhra Pradesh

Vedanta has secured a manganese block in Andhra Pradesh through the auction route. The Punnam manganese block spans 152 hectares and is currently at the G4 level of exploration. The G4 level of exploration, known as reconnaissance, is the broadest and earliest stage of mineral exploration where broad areas are surveyed to identify potential mineral-rich regions. "The company has been declared as the preferred bidder for the Punnam Manganese block in Andhra Pradesh by the Department of Mines & Geology," Vedanta has said in a filing to BSE on Thursday. Grant of the composite license will be subject to fulfilment of conditions, including submission of a performance bank guarantee, statutory clearances, and execution of required agreements with the state government, the filing said. A composite license, officially called a prospecting licence-cum-mining lease, is a two-stage mining concession that grants the holder the right to both prospect (explore and determine the extent of a ...

Vedanta CEO warns US tariffs risk slowing global energy transition

Vedanta CEO Deshnee Naidoo cautioned that US tariffs could slow global decarbonisation, stressing India must prioritise critical minerals and domestic value chains

Vedanta refunded ₹1,030 cr brand fee to unit after ED scrutiny: Viceroy

Viceroy Research alleges Vedanta Resources refunded ₹1,030 crore to Vedanta Ltd after ED scrutiny, raising questions over intercompany brand fee payments and governance

Vedanta report by Viceroy 'lacks credibility', says Ex-CJI Chandrachud

Former CJI DY Chandrachud said Viceroy's report on Vedanta includes damaging terms like 'ponzi', and the company would be well-placed to seek legal remedies

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

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 stock tanks 8% as Viceroy Research shorts parent's debt

The US-based research firm Viceroy Research has turned short on Vedanta Resources, as it found the group's financial structure unsustainable and operationally compromised.

Viceroy shorts Vedanta Resources' debt; group calls report 'malicious'

Viceroy Research has shorted Vedanta Resources' debt, alleging the group is draining its Indian unit, inflating profits, and posing serious risks to creditors through unsustainable practices

Vedanta Resources secures $600 mn loan to refinance private credit facility

London-based Vedanta Resources Limited (VRL), the parent firm of Mumbai-listed mining conglomerate Vedanta Ltd, has secured a term loan facility of up to USD 600 million that will be used to refinance a high-cost private credit facility, according to a communication sent to bondholders. The first tranche of USD 380 million has been committed, with the remaining USD 220 million expected to be finalised shortly with other participating banks. Lenders for the USD 380 million facility comprise a consortium of Gulf, Japanese, and European banks, including First Abu Dhabi Bank, Mashreq, Sumitomo Mitsui Banking Corp, and Standard Chartered. "The facility carries a door-to-door tenor of over four years, with an average maturity of approximately three years and a pricing of SOFR (Secured Overnight Financing Rate) plus 450 basis points. "This proactive refinancing, combined with internal cash flows, positions us to fully repay the PCF facility - substantially enhancing our credit profile by

Vedanta Resources reports $1.6 bn profit in FY25, reverses prior loss

London-based Vedanta Resources Ltd on Monday said it has registered a profit of USD 1,617 million in the year ended March 2025, driven by favourable commodity prices, higher premiums and operational efficiencies. In contrast, the company had posted a loss of USD 400 million in FY24. The revenue of the company rose by 6 per cent to USD 18,220 million, compared to USD 17,128 million a year ago. "Revenue for fiscal year 2025 stood at USD 18.2 billion, up 6 per cent on a YoY basis," the company said in a release. Vedanta Resources Chairman Anil Agarwal said, "The world around us is moving fast. There are big changes in geopolitics and geoeconomics. Some may view them as a challenge. We view them as opportunities." Looking ahead, he added, "For Vedanta, this is the right moment to transform itself into a natural resources, energy and technology company. Vedanta 2.0 will have a key role in each of the most crucial levers of the economy. "We are also in the process of demerging our busi

Vedanta to raise upto ₹5,000 crore via unsecured bond issue for refinancing

Vedanta Ltd will issue bonds worth ₹5,000 crore to refinance existing debt and back capital expenditure as part of its restructuring and investment plans

Vedanta Resources proposes to repay $920 million debt in FY26: CFO Goel

Anil Agarwal-led Vedanta Resources Ltd (VRL), as part of its deleveraging exercise, has proposed to repay USD 920-million debt in the current fiscal year and about USD 675 million in the next, a company official said. The company has been gradually deleveraging its balance sheet, improving its capital structure, and lowering its financial costs by tapping bond markets as part of its liquidity management exercise. In a Q4 earnings conference call, Vedanta's Chief Financial Officer Ajay Goel said, "So USD 920 million is a debt repayment to do in the current year. Next year, FY27, it's about USD 675 million." The need for cash at VRL is declining rapidly, led by both deleveraging and refinancing, he said, adding that at the same time, overall cash flow at Vedanta India, given the augmented volume, compressed cost, is much higher. "So overall, we as a group in terms of cash management is historical best position," he explained. Last year, Vedanta firmly established itself as one of th

Vedanta Resources weighs Zambia copper IPO to fund $1 billion investment

Vedanta has pledged to invest $1 billion in the operation as part of negotiations with the state to secure its return to Konkola copper mines

Vedanta Resources mulls US listing to raise $1 bn for Zambian copper assets

Vedanta is considering New York as one of the options to list KCM, as the Zambian unit is known, the sources said