Page 2 - Latest Updates on Anil Agarwal
Vedanta chairman Anil Agarwal outlines $4 bn plan to double oil production
The company is pushing ahead with the investment undeterred by concerns around debt levels at parent Vedanta Resources
 "Vedanta chairman Anil Agarwal outlines $4 bn plan to double oil production")
Vedanta Q3FY24 results: Net profit falls over 18% to Rs 2,013 crore
Vedanta Q3 results: The revenue of the company was up 4 per cent to Rs 34,968 crore during the quarter
 "Vedanta Q3FY24 results: Net profit falls over 18% to Rs 2,013 crore")
Majority bondholders have consented to restructuring: Vedanta Resources
The company said 97.78 per cent, 98.69 per cent, 99.6 per cent, and 99.12 per cent of the four series of bonds respectively have consented in favour of the company's proposed restructuring
 "Majority bondholders have consented to restructuring: Vedanta Resources")
Vedanta Resources faces investor reckoning over $3.2 billion of bonds
Vedanta needs a green light from at least two-thirds of the bondholders in each of the three securities to proceed with the plan. A holder meeting will be held on Jan. 4
 "Vedanta Resources faces investor reckoning over $3.2 billion of bonds")
Vedanta Ltd to raise up to Rs 3,400 crore via non-convertible debentures
On Monday, Vedanta Ltd had announced its second interim dividend of Rs 11 per share for 2023-24
 "Vedanta Ltd to raise up to Rs 3,400 crore via non-convertible debentures")
Anil Agarwal's Vedanta announces second dividend of Rs 11 apiece for FY24
Vedanta second interim dividend: The second interim dividend will cost the company Rs 4,089 crore and its record date has been fixed at December 27
S&P downgrades Anil Agarwal's Vedanta Resources; warns of potential default
Anil Agarwal firm seeks bondholders consent to extend maturities
Vedanta Resources secures debt refinancing worth $1.25 billion: Report
Earlier on Thursday, S&P Global Ratings downgraded Vedanta Resources Ltd's long-term issuer rating and bonds from "CCC" to "CC" on potential extension of bond maturities
Vedanta in talks to raise upto $2.5 bn to repay overseas bondholders
The group's holding company, Vedanta Resources, is also looking to sell part of its 63.71 per cent stake in Vedanta Ltd to meet any funding requirements
 "Vedanta in talks to raise upto $2.5 bn to repay overseas bondholders")
Anil Agarwal's Vedanta appoints Ajay Goel as chief financial officer
Goel's last stint with Vedanta was as acting chief financial officer from October 2021 to April this year
 "Anil Agarwal's Vedanta appoints Ajay Goel as chief financial officer")
Byju's CFO Ajay Goel returns to Vedanta Ltd to oversee restructuring
The development comes at a time when the firm was to present its audited financials for FY22 in the second week of October
 "Byju's CFO Ajay Goel returns to Vedanta Ltd to oversee restructuring")
Byju's CFO quits, rejoins Anil Agarwal's Vedanta to oversee restructuring
Ajay Goel will be returning to Vedanta, which he had quit in April, in time to help with splitting the metals firm into six listed companies, they said
Vedanta CFO Sonal Shrivastava likely to quit months after joining firm
Sonal Shrivastava, who joined the company in June, informed Agarwal about her decision to leave last month, the people said, asking not to be named as the information is not public
India Ratings downgrades Vedanta's long term rating from 'AA' to 'AA-'
Ind-Ra consistently takes a consolidated perspective of VDL and its subsidiaries, collectively referred to as the VDL group, owing to their intertwined strategic, operational, and financial ties
 "India Ratings downgrades Vedanta's long term rating from 'AA' to 'AA-'")
Vedanta starts demerger process with incorporation of base metal subsidiary
Vedanta Base Metals Ltd has been incorporated to carry out the metal business
 "Vedanta starts demerger process with incorporation of base metal subsidiary")
Spotlight continues to be on Vedanta's $3 bn debt despite spinoff plan
A streamlined structure could also help Agarwal sell unprofitable or low-growth assets - something the billionaire has long avoided
 "Spotlight continues to be on Vedanta's $3 bn debt despite spinoff plan")
Vedanta close to raising $3 bn from JP Morgan, Standard Chartered: Report
The money will be used to escape default on Vedanta's upcoming payments
 "Vedanta close to raising $3 bn from JP Morgan, Standard Chartered: Report")
Street gives a thumbs up to Anil Agarwal-led Vedanta's demerger plan
While the holding company discount should reduce and operational flexibility improve, there are still some concerns on the parent's debt
 "Street gives a thumbs up to Anil Agarwal-led Vedanta's demerger plan")
Vedanta to complete sale of steel assets by March 2024: Anil Agarwal
In an interview, Agarwal said the response to the steel and iron business will help the company reduce debt
 "Vedanta to complete sale of steel assets by March 2024: Anil Agarwal")
Vedanta hopeful of Centre's support for Hindustan Zinc Ltd overhaul
Company executives from both HZL and Vedanta said they expect government support for the move and it will help the government ease in with its earlier considered divestment programme
 "Vedanta hopeful of Centre's support for Hindustan Zinc Ltd overhaul")
