Page 3 - Latest Updates on Anil Agarwal
Hindustan Zinc plans to create separate entities for its commodities
Hindustan Zinc Ltd said in a statement that it would create different legal entities for its zinc & lead, silver, and recycling businesses
 "Hindustan Zinc plans to create separate entities for its commodities")
Vedanta Ltd preparing to demerge sprawling operation, says report
Vedanta Ltd.'s parent, Vedanta Resources, will remain the holding company, the people said. Deliberations are ongoing and no final decisions on the structure or timing of the de-merger have been made
 "Vedanta Ltd preparing to demerge sprawling operation, says report")
Moody's downgrades Vedanta Resources' corporate family rating to Caa2
Moody's has also downgraded to Caa3 from Caa2 its rating on the senior unsecured bonds issued by VRL
 "Moody's downgrades Vedanta Resources' corporate family rating to Caa2")
Anil Agarwal's Vedanta lobbied to dilute 'green' norms, says OCCRP
Company says representations are submitted for govt's consideration in the best interest of national development
 "Anil Agarwal's Vedanta lobbied to dilute 'green' norms, says OCCRP")
Vedanta seeks to identify its dollar bondholders as $2 billion debt looms
Vedanta has engaged a corporate advisory firm Morrow Sodali to identify owners of notes that mature in January 2024, August 2024 and March 2025, according to a notice sent last week
 "Vedanta seeks to identify its dollar bondholders as $2 billion debt looms")
Indian billionaire Anil Agarwal mulls listing Vedanta businesses separately
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
 "Indian billionaire Anil Agarwal mulls listing Vedanta businesses separately")
Vedanta pledges to pay $250 mn to Zambia creditors before retaking mine
The plan to pay all creditors is "to make sure I win the hearts of the people," billionaire Agarwal said in an interview at Bloomberg's Johannesburg office. "Money will never be a constraint"
 "Vedanta pledges to pay $250 mn to Zambia creditors before retaking mine")
Vedanta looks to refinance $3.8 bn bonds maturing between 2024-2026
Billionaire Anil Agarwal's Vedanta Resources is looking to refinance $3.8 billion worth of bonds maturing between 2024 and 2026 with loans of extended maturities
 "Vedanta looks to refinance $3.8 bn bonds maturing between 2024-2026")
Have identified world-class tech partner, tying up with them: Anil Agarwal
"For semiconductor we have identified world class partner, we have already identified a world class partner for technology and are in process of tying up with them," he said at SemiconIndia 2023
 "Have identified world-class tech partner, tying up with them: Anil Agarwal")
Vedanta says it's awaiting govt nod for semiconductor plant in Gujarat
The group already has a partnership with Taiwan's Innolux for display fab manufacturing, he added
 "Vedanta says it's awaiting govt nod for semiconductor plant in Gujarat")
Vedanta inches closer to regain control over Zambia copper assets
The Zambian government placed Konkola Copper Mines Plc, 79.4% owned by Vedanta, into provisional liquidation in 2019, and has since been locked in legal battles with the company over the asset
 "Vedanta inches closer to regain control over Zambia copper assets")
Troubles mount for Anil Agarwal's Vedanta as Foxconn ditches $19.5 bn JV
London-headquarted Vedanta Resources controls the India unit, Vedanta Ltd. Agarwal took Vedanta Resources private in 2018. As of 2022, his net worth was $2 billion, ranking him 97th among India's rich
 "Troubles mount for Anil Agarwal's Vedanta as Foxconn ditches $19.5 bn JV")
Vedanta Resources deepens tech push with $4 billion India display factory
Anil Agarwal's metals and mining conglomerate is expanding in electronics components to take advantage of India's push to become a technology manufacturing hub
With Vedanta JV facing hurdles, Foxconn reaches out to other companies
Foxconn has already held informal discussions with a few companies to explore a potential partnership, including 'two large domestic corporate groups'
 "With Vedanta JV facing hurdles, Foxconn reaches out to other companies")
Vedanta plans to invest $1.7 bn in FY24 on growth projects: Anil Agarwal
Sharing details of the company's projects, the chairman said Vedanta is already expanding its aluminium and zinc capacities
Vedanta explores refinancing, brand monetisation for timely debt repayments
To ensure enough funds, Vedanta Limited has increased the percentage of royalty from 2 to 3 per cent beginning this year
Vedanta Resources repays $1.4-bn bonds; brings down debt to $6.4 bn
Agarwal said the group has good relations with Glencore, which is a key customer of the group, and said there are no plan to sell a stake to Glencore
 "Vedanta Resources repays $1.4-bn bonds; brings down debt to $6.4 bn")
A $2.5 bn debt bill shows risks ahead for Anil Agarwal's Vedanta Resources
Vedanta's dollar note maturing Wednesday is trading at 99.4 cents to the dollar, indicating confidence in the market that it will be repaid
 "A $2.5 bn debt bill shows risks ahead for Anil Agarwal's Vedanta Resources")
Why Anil Agarwal-owned Vedanta group companies face high debt risk
Borrowings to pay record dividends to shareholders, including to the London-based holding company, have touched new highs
 "Why Anil Agarwal-owned Vedanta group companies face high debt risk")
Anil Agarwal's Vedanta pledges almost its entire stake in Hindustan Zinc
Vedanta created a pledge of 3.3% of its total equity or 13.94 crore shares in favour of Axis Trustee Services on May 23
