Page 2 - Vedanta Anil Agarwal

Govt rejects Hindustan Zinc's plans to split company into different units

Vedanta has a 64.9% stake in Hindustan Zinc

Anil Agarwal's Vedanta receives an administrative warning from Sebi

Vedanta said that the development will have no impact on financial, operational or other activities of the company, quantifiable in monetary terms to the extent possible

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

Troubled Meenakshi Energy Ltd becomes wholly-owned arm of Vedanta

Anil Agarwal-promoted Vedanta on Wednesday said Meenakshi Energy Ltd has become its wholly-owned subsidiary. The National Company Law Tribunal had earlier approved Vedanta's acquisition of Meenakshi Energy for Rs 1,440 crore. "Meenakshi has allotted 10,00,000 fully paid-up equity shares of Rs 10 each amounting to equity capital of Rs 1 crore to the company, consequent to which, Meenakshi has become a wholly-owned subsidiary of the company with effect from December 27," Vedanta said in a regulatory filing. Vedanta had earlier said that it will acquire bankrupt thermal power company Meenakshi Energy for Rs 1,440 crore through an insolvency process. "This letter is in continuation to the stock exchange announcements made by Vedanta Limited (the company) vide its letters dated August 11, 2023 and January 18, 2023 pursuant to Regulation 30 of Listing Regulations regarding the acquisition of Meenakshi Energy Ltd (Meenakshi) under Corporate Insolvency Resolution Process in accordance with

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

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

HZL will need approval to create separate business entities: Govt

In a meeting held on September 29, HZL's board had asked the company to explore corporate restructuring and create three separate legal entities for Zinc and lead, silver, and recycling biz

JSW Steel, ArcelorMittal in race to buy Vedanta mines, steel assets

Vedanta's ask price for both assets at Rs 10,000 cr

Lenders unlikely to clear Anil Agarwal's Vedanta spinoff in hurry

To scrutinise rationale for recast, structural details, plans for each unit

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

Anil Agarwal's Vedanta Resources readies ground for spinoff to tackle debt

As recently as last month, Anil Agarwal in a message to shareholders indicated plans to explore the creation of independent entities for some or all of Vedanta's businesses

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 wins arbitration against govt in $1.1 bn cost disallowance case

Mining magnate Anil Agarwal's Vedanta Ltd has won an arbitration against a demand for a higher payout from its prolific Rajasthan oil and gas fields after disallowance of Rs 9,545 crore (USD 1.16 billion) in certain costs incurred, the company said. The government has sought additional profit petroleum (or its share from the oil and gas fields) after it reallocated certain costs between the fields in the block and disallowed a portion of the cost incurred on laying a pipeline to evacuate oil produced from the Rajasthan block. As per the contract, companies are allowed to recover all costs incurred before splitting profit in a predetermined ratio with the government. If a certain portion of cost is disallowed, it would result in higher profits and a resultant higher share to the government. Vedanta had challenged such a demand before an arbitration tribunal. "The company has received an arbitration award dated August 23, 2023... upholding the contention of the company that additional

Vedanta considering separate entities for businesses, says Anil Agarwal

'Investors like pure play,' says billionaire chairman of company that has varied interests

Hindustan Zinc Q1 results: Net profit down 36.5%, as revenue dips 23% YoY

The operating margin for the company's business also saw a downfall from 48 per cent in Q1FY23 to 35 per cent in Q1FY24

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

Foxconn pulls out of semiconductor joint venture with Vedanta Ltd

Foxconn and Vedanta signed a pact last year to invest $19.5 billion to set up semiconductor and display production plants in Gujarat

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