The dollar bonds of Vedanta Resources slipped, with one dropping the most in more than three weeks, on news Indian billionaire Anil Agarwal is planning to overhaul his sprawling conglomerate to tackle its debts. All four junk-rated notes were indicated lower on Monday, Bloomberg-compiled data showed. The August 2024 bond posted the biggest drop, down … Read more
Worries around debt repayments and stretched finances in billionaire Anil Agarwal’s Vedanta Resources Ltd. are on underscored by losses in some bonds of the commodity giant. The London-based company’s Indian unit Vedanta Ltd.’s semiconductor-making ambitions were dealt with a blow this week after its Taiwanese partner Hon Hai Technology Group decided to part ways on … Read more
A $10 billion push to make semiconductors in India is on shaky ground. Its collapse will expose a major fault line in Prime Minister Narendra Modi’s campaign for greater economic self-reliance. Already, influential critics are asking if the much-touted success in becoming a hub for smartphone manufacturing is a hollow claim. Low-end assembly-line jobs, created … Read more
Anil Aggarwal, the founder and chairman of Vedanta Resources Limited was born on January 24, 1954 in Patna, Bihar. Fast forward to 2023, he is now the richest person of Bihar and one of the richest people in the country. Starting from his first copper rod plant in Mumbai, Agarwal transformed his small scrap metal … Read more
Vedanta Group chairman Anil Agarwal on Tuesday said Vedanta Resources (VRL), holding company of the mining and metals conglomerate, is well-positioned to meet its future debt obligations, and that concerns around the group being over-leveraged are misplaced. “We are very, very comfortable,” said the 69-year-old billionaire in an interview with ET, drawing attention to the … Read more
Anil Agarwal-led mining company Hindustan Zinc today announced a second interim dividend of Rs 15.5 per share or 775% for a face value of Rs 2 per unit for the ongoing financial year. The filing by the company said the dividend will amount to Rs 6,549.2 crore. The company had already declared November 24 as … Read more
Vedanta will finalise a location for its $20 billion (roughly Rs. 1,55,273 crore) semiconductor and display plants in India by mid-June and will have the first chip product ready in two years, its Chairman Anil Agarwal said on Wednesday. Oil-to-metals conglomerate Vedanta said in February it will diversify into chip manufacturing and announced plans to … Read more
raised Rs 1,000 crore from IDBI Bank and Canara Bank last week for three years at 7.68% to repay existing debt and for general corporate purposes, people aware of the matter said. Of the Rs 1,000 crore which were raised in the form of secured bonds maturing 31 December 2024, both banks subscribed to Rs … Read more
NEW DELHI: 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 … Read more
Vedanta Ltd (VIL) had agreed to provide loans and guarantees worth Rs 7,900 crore to its parent Vedanta Resources (VRL) just months before the launch of a delisting offer for the Indian subsidiary by the London-based VRL. About Rs 2,311 crore of this loan had already been given before the launch of the offer, latest … Read more