Vedanta likely to sell copper plant in Tamil Nadu for Rs 4,500 crore

VRL has $1.7 billion of short-term investments in various bank deposits, quoted bonds and mutual funds as of March 2023

Vedanta Ltd, which is planning to restart its copper plant in Tamil Nadu, is weighing the option to sell the unit at a valuation of up to Rs 4,500 crore, banking sources have said.

The company had sought expressions of interest (EoIs) for the plant in June last year but did not get a good response as the unit was shut for the last five years.

“The process has now restarted with the bankers reaching out to potential bidders,” said a banker.

On June 12, the company had invited EoIs for carrying out plant ‘restart activities’ after a Supreme Court