Agarwal mulls listing Vedanta businesses separately
BENGALURU - India's Vedanta will consider separately listing all or some of its businesses, which range from metals and mining to oil & gas and potentially chipmaking, billionaire Anil Agarwal said on Friday.
"I have asked all my advisors and my people can we have all products (businesses that Vedanta operates) or some products to be independent," Agarwal said in a video message posted on YouTube.
"If you have one share of Vedanta Ltd, you will have many shares of other companies and people will have an opportunity to invest in different areas. Some international companies want to invest in a particular area, they will get that opportunity."
Agarwal said he will seek shareholders' views on the proposal and the reorganisation could see better returns and dividends for investors.
The plans stand in contrast to Agarwal's attempts in 2020 to delist Vedanta Ltd to expedite the process of simplifying its corporate structure, which failed.
Vedanta's parent, Vedanta Resources, has been scrambling to raise funds, with credit rating agencies downgrading its outlook, citing funding risks and concerns about meeting debt obligations.
Earlier this year, Agarwal sought to trim down the group's $7.7-billion debt by getting Hindustan Zinc, a unit of Vedanta Ltd, to buy some of the parent's zinc assets in a $2.98-billion deal.
However, the Indian government, which owns nearly 30% stake in Hindustan Zinc, opposed the move.
Vedanta had in June also initiated a strategic review of its steel and steel raw materials businesses as the group eyed money from its units to tackle its debt burden.
S&P Global Ratings estimates Vedanta Resources' funding gap to be $2-billion until August 2024.
Comments
Research Reports
Projects
Latest News
Showroom
John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...
VISIT SHOWROOM
SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
