Agarwal made a fortune buying state companies and fixing them up, building a metals and mining powerhouse under the umbrella of Vedanta Resources Ltd
Company's failure to simplify its corporate layout by delisting its Indian unit Vedanta Ltd. in Oct. had triggered concerns on its ability to refinance its debt maturities.
The failure of Vedanta's delisting plan is unlikely to discourage him to make his empire asset-light
Market experts say the stock had seen good gains in the past two months and touched Rs 140 levels in expectation of the delisting going through at Rs 170-plus per share
The failed delisting of the mining-to-electricity conglomerate is not the first time attempts to restructure Anil Aggarwal's opaque empire have been controversial
Debt restructuring, proposal to approach Sebi for extension could be points of meeting agenda
Entry into capital market easier than exit due to regulatory process, say corporate compliance firms
The billionaire is working with London-based Centricus Asset Management Ltd on the fund, which will have a 10-year life span and use a private equity-type strategy
The fund will also target companies restructuring under India's bankruptcy regime, the people said
Setback for govt as Supreme Court allows the company higher cost recovery for Ravva field
Court rejects government's petition, which had said that billionaire Anil Agarwal's company, along with Videocon Industries Ltd., is entitled to recover only $198.5 million
Companies have already announced $26 billion of transactions to be taken private by a related party this year, up about 2,500% from the same period in 2019
Vedanta raised a $1.75 billion facility in August to finance a plan to take its Indian unit private, and is in talks with banks for a further $600 million
"Arable land in the country is also continuously decreasing. If there is no population control law in time, many problems will arise," the BJP MP said
The stock will be replaced by HDFC Life Insurance Company with effect from July 31. It will be replaced by SBI Cards in the Nifty 100 and Nifty 500 indices
Agarwal said that the closure of the plant two years back has led to a surge in copper imports, defeating the purpose of Aatmanirbhar Bharat campaign
On Tuesday, VRL had said it would acquire 49.86% from public shareholders at Rs 87.5 a share to delist Vedanta - lower than its last closing price of Rs 90.2
Agarwal-controlled Vedanta Resources will offer Rs 87.5 per share to nearly 49 per cent public shareholders of Vedanta Ltd
CEOs warn of economic depression, say need to work within new normal
Agarwal said the share price has moved up 40-50 per cent since the time the government announced its plan to sell stake in November last year