Page 2 - Anil Agarwal

Vedanta chairman Anil Agarwal outlines $4 bn plan to double oil production

Mining conglomerate Vedanta Ltd will invest USD 4 billion over the next three years to double oil production, its chairman Anil Agarwal said on Tuesday as he pushed ahead with an aggressive oil and gas expansion programme. Vedanta, which more than a decade back acquired Scottish explorer Cairn Energy's (now Capricorn Energy) India assets, is targeting 300,000 barrels per day (15 million tonnes a year) oil output in 3 years from aggressive exploration campaign, he said on the sidelines of the India Energy Week (IEW) here. The company is pushing ahead with the investment undeterred by concerns around debt levels at parent Vedanta Resources. "India is the best place to be in right now. It has the resources as well as the market," he said. "But unfortunately we (as a country) produce just 15 per cent of our need and the rest is imported." Agarwal said his company currently produces around 140,000 barrels per day of oil and oil equivalent gas and has a promising acreage in northeast and

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

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

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 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

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 bond holders 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

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

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

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

Vedanta starts demerger process with incorporation of base metal subsidiary

Vedanta Base Metals Ltd has been incorporated to carry out the metal business

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

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

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

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 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