Page 3 - 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

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

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

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

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

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

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 looks to refinance $3.8 bn bonds maturing between 2024-2026

Billionaire Anil Agarwal's Vedanta Resources is looking to refinance USD 3.8 billion worth of bonds maturing between 2024 and 2026 with loans of extended maturities and manageable size, a company official said on Friday. The mining conglomerate has about USD 1 billion of bonds maturing in January next year, followed by a similar size coming up for payment in August 2024. Another USD 1.2 billion bonds are due in March 2025 and another USD 600 million in April 2026. "We are looking to put in place a refinancing package that will include deleveraging (some debt), extending maturities and manageable size," said Omar Davis, President Strategy at Vedanta Resources. He did not give details of the refinancing but expressed confidence in being able to achieve well before due maturities. "We want less big towers (size of loans) and longer maturity periods," he said. On Thursday, S&P Global Ratings revised the rating outlook on Vedanta Resources to negative from stable to "reflect the ...

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

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 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

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

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'

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

Robust demand, operational performance will help group to cut debt further, it says

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

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

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