Vedanta Resources

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

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Vedanta raises Rs 2,600 crore through non-convertible debentures

Mining major Vedanta on Thursday said it has raised Rs 2,600 crore through issuance of non convertible debentures. In a filing on BSE, Vedanta said the committee of directors of the company has approved the allotment of 2,06,000 rupee-denominated unsecured, redeemable, rated, listed, non-convertible debentures of face value of Rs 1 lakh each, aggregating to Rs 2,060 crore (Series 1 debentures). Besides, it has allotted 54,000 rupee-denominated unsecured, redeemable, rated, listed, non-convertible debentures of face value of Rs 1 lakh each, aggregating to Rs 540 crores (series 2 debentures), Vedanta said. On February 11, the company's committee of directors had approved raising up to Rs 3,000 crore through issuance of non-convertible debentures (NCDs).

Vedanta Resources aims to raise $1 bn via debt to fund Zambian copper mines

CAPE TOWN (Reuters) - Vedanta Resources VDAN.NS> is trying to raise around $1 billion in debt financing to fund development of its Konkola Copper Mines (KCM) in Zambia, Chris Griffith, head of the company's base metals unit, said.

S&P upgrades Vedanta Resources' rating on reduced refinancing risk

Vedanta Resources has seen its rating being upgraded in recent months after seeking to lower its debt and improve its capital structure

Vedanta Resources appoints Deshnee Naidoo as first CEO to lead growth phase

Vedanta Resources Ltd (VRL), the parent firm of Mumbai-based mining conglomerate Vedanta Ltd, on Wednesday announced the appointment of Deshnee Naidoo as its first Chief Executive Officer (CEO) to spearhead its fresh growth phase. Her appointment comes at a time when Vedanta Resources Ltd's Indian subsidiary, Vedanta Ltd, is demerging its businesses to unlock significant value for stakeholders. This marks Naidoo's second stint with the company. In her previous assignment, Naidoo was CEO of nickel and copper firm Vale Base Metals. Naidoo's appointment is with effect from January 20, 2025, the company said in a statement. She was with Vedanta from 2014 to 2020 and served in senior leadership roles including CEO of Africa Base Metals and CEO of Vedanta Zinc International. Deshnee brings with her over two decades of experience in the resources business across different geographies and diversified metals and minerals. "Deshnee joins us at an exciting phase in our journey...we are now

Fitch upgrades Vedanta Resources' long-term ratings with stable outlook

Fitch has upgraded Vedanta Resources Ltd's (VRL) long-term foreign-currency issuer default rating following a "significant reduction" in the company's refinancing risks. The rating agency upgraded VRL's senior unsecured rating to 'B+' from 'B-' and also changed the outlook to stable, according to a statement. Besides, it has upgraded "the ratings on the USD 300 million June 2028 bonds and USD 500 million December 2031 bonds, issued by VRL's subsidiary Vedanta Resources Finance II Plc (VRF2), and unconditionally and irrevocably guaranteed by VRL, to 'B+' from 'B-' with Recovery Rating of 'RR4'," the statement said. The upgrade follows a significant reduction in VRL's refinancing risks, after it raised USD 1.1 billion in new bonds and received bank commitments for loans worth USD 350 million at the holding company, formed by VRL and other offshore investment holding companies owned by VRL, in January 2025, the statement said. Once the proceeds are used to refinance existing debt, the

Vedanta Resources raises $1.1 billion through dual tranche bond issuance

Mining mogul Anil Agarwal's Vedanta Resources has raised USD 1.1 billion through a new bond offering to prepay existing liabilities, the company said in a Singapore exchange filing. Vedanta Resources Finance II plc, a wholly owned subsidiary of Vedanta Resources, raised USD 1.1 billion through a new dual tranche issuance in international debt capital markets. Vedanta Resources Ltd (VRL) has raised USD 3.1 billion in USD bonds since September 2024. As per the exchange filing, the latest bond issuance consists of two tranches - a USD 550 million tranche of 5.5 years tenor at a 9.475 per cent interest rate and a USD 550 million tranche of 8.25 years tenor at a 9.850 per cent interest rate. Both tranches garnered strong investor demand with the bonds receiving final orders of USD 3.4 billion from over 135 accounts, representing an oversubscription of 3.1x, the company said. "The net proceeds from the offering of the Bonds will be used to prepay Vedanta's outstanding bonds (including a

Vedanta Resources secures $300 million loan commitment for debt refinancing

In September 2024, Vedanta Resources raised $900 million in its first dollar bond issue in more than two years and later raised $800 million through another dollar bond issue in November

S-P Global upgrades Vedanta's rating from B- to B with stable outlook

Vedanta Resources Limited (VRL), the parent firm of Mumbai-based mining conglomerate Vedanta Ltd, has received a rating upgrade from S&P Global Ratings. The agency upgraded VRL's corporate family rating from 'B-' to 'B'. With this, VRL's rating by S&P has gone up by five notches from 'CC' in December last year. "We raised our issuer credit rating on Vedanta Resources Ltd. to 'B' from 'B-' and raised our issue ratings on the company's guaranteed bonds to 'B-' from 'CCC+'," the rating agency said. S&P said in its report that the upgrade comes after VRL obtained the minimum acceptances needed to close its consent solicitation exercise for 2028 bonds. "The stable outlook reflects our expectation that refinancing risks will be more manageable after the transaction given a newfound funding flexibility and improved capital market access," the agency said in its report. "The stable outlook also reflects the company's sound underlying operations, which should support internal cash .

Vedanta Resources raises $800 mn from global investors via new bond issue

UK-based Vedanta Resources, the parent of India's Vedanta, has raised USD 800 million from global investors through a new bond issue. The proceeds will be used to prepay the company's outstanding debt due in 2028. Vedanta Resources Finance II PLC (VRF) said in a Singapore exchange filing that it has raised USD 800 million by issuing new bonds. The issue comprises two tranches of bonds -- one with an aggregate principal amount of USD 300 million of 10.25 per cent bonds due in 2028 and the other involving an aggregate principal amount of USD 500 million of 11.25 per cent bonds due in 2031. The bids were received from existing as well as new set of investors across Asia Pacific, Europe, the Middle East and Africa (EMEA), and the US with more than 90 per cent participation from asset/fund managers across both tranches. As per VRF's stock exchange notification, the final allocation of the bonds includes 32 per cent from Asia, 36 per cent from EMEA, and 32 per cent from US for the bonds