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Time of India
11-07-2025
- Business
- Time of India
Anil Agarwal unveils ‘3D' plan to double Vedanta size
New Delhi: Billionaire Anil Agarwal on Thursday outlined a bold vision to double the size of his mining conglomerate Vedanta, driven by a '3D' strategy focused on demerger, diversification, and deleveraging. Addressing shareholders at the company's 60th annual general meeting, he said each of the demerged businesses, resulting from a current demerger exercise, has potential to grow into a $100-billion enterprise. "Our 3D strategy, demerger, diversification and deleveraging, will enable us to double in size and unlock maximum value for our stakeholders," he said. The Vedanta Ltd chairman also said the company is in advanced stages of restructuring its business. "Our demerger proposal has received support from over 99.5 per cent of shareholders and creditors. This is a vote of confidence like no other."Once implemented, for every share held in Vedanta Ltd, each shareholder will receive one share in each of the four demerged companies," he explained. Vedanta has also plans to enter into partnerships with 1,000 startups in the technology space. "This will make Vedanta one of the largest innovation hubs, nurturing the next generation of technology champions who will shape the future of Bharat," he explained. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why seniors are rushing to get this Internet box – here's why! Techno Mag Learn More Undo The demerger of the company will create separate entities focused on aluminium, oil and gas, power, iron and steel, and zinc and silver. Each Vedanta shareholder will receive shares in the new companies. The annual general meeting has come a day after US short seller Viceroy Research on Wednesday called Agarwal-led British firm Vedanta Resources a "parasite" that is "systematically draining" its Indian unit, an allegation which the group called as "selective misinformation and baseless" aimed at discrediting it. pti
New Indian Express
10-07-2025
- Business
- New Indian Express
Vedanta demerger proposal set to receive approvals soon: Anil Agarwal
Vedanta Group Chairman Anil Agarwal on Thursday said the company's demerger proposal is in the final stages of receiving the necessary approvals. Agarwal, speaking at the company's 60th Annual General Meeting, stated that each of the demerged businesses has the potential to grow into a $100 billion enterprise. Once implemented, for every share held in Vedanta Ltd, shareholders will receive one share in each of the four demerged companies. Vedanta Group plans to create separate entities focused on aluminium, oil and gas, power, iron and steel, and zinc and silver. 'Our demerger proposal has received support from over 99.5% of shareholders and creditors. This is a vote of confidence like no other,' said Agarwal. The AGM was held a day after US short-seller Viceroy Research released a report on Wednesday, calling the Agarwal-led British parent firm Vedanta Resources a 'parasite' that is 'systematically draining' its Indian subsidiary. In response, officials at Vedanta Ltd strongly denied the allegations, stating that the report offered no new findings that should concern investors. Agarwal said Hindustan Zinc is investing `12,000 crore to set up a 250,000 tonne integrated smelting complex, calling it a key part of the company's 2x growth vision.
Time of India
10-07-2025
- Business
- Time of India
Anil Agarwal unveils '3D' strategy to double Vedanta size via demerger, diversification, deleveraging
Billionaire Anil Agarwal on Thursday outlined a bold vision to double the size of his mining conglomerate Vedanta , driven by a '3D' strategy focused on demerger, diversification, and deleveraging. Addressing shareholders at the company's 60th annual general meeting , he said each of the demerged businesses, resulting from a current demerger exercise, has potential to grow into a USD 100-billion enterprise. "Our 3D strategy, demerger, diversification and deleveraging, will enable us to double in size and unlock maximum value for our stakeholders," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo The Vedanta Ltd chairman also said the company is in advanced stages of restructuring its business. "Our demerger proposal has received support from over 99.5 per cent of shareholders and creditors. This is a vote of confidence like no other. Live Events "Once implemented, for every share held in Vedanta Ltd, each shareholder will receive one share in each of the four demerged companies," he explained. Vedanta has also plans to enter into partnerships with 1,000 startups in the technology space. "This will make Vedanta one of the largest innovation hubs, nurturing the next generation of technology champions who will shape the future of Bharat," he explained. The demerger of the company will create separate entities focused on aluminium, oil and gas, power, iron and steel, and zinc and silver. Each Vedanta shareholder will receive shares in the new companies. The annual general meeting has come a day after US short seller Viceroy Research on Wednesday called Agarwal-led British firm Vedanta Resources a "parasite" that is "systematically draining" its Indian unit, an allegation which the group called as "selective misinformation and baseless" aimed at discrediting it. The US firm took a short position against the debt of Vedanta Resources, the UK-based parent of Indian miner Vedanta Ltd, alleging that the group "is a house of cards built on a foundation of unsustainable debt, looted assets, and accounting fiction." Vedanta responded saying the report was "a malicious combination of selective misinformation and baseless allegations" and that its authors issued it without contacting the group. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources , critical minerals, energy and technology companies spanning across countries like India, South Africa, Namibia, Liberia, UAE and Saudi Arabia, with operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate and foraying into electronics and display glass manufacturing. With India's geology being comparable to resource-rich nations like Canada and Australia but only 25 per cent explored, he said the time was ripe for accelerated growth in the critical minerals sector. The company has bagged 10 critical mineral blocks across India, one of the largest by any private sector company. The company is also setting up the world's first industrial zinc park and India's largest aluminium park, aimed at nurturing thousands of MSMEs and creating lakhs of employment opportunities, marking the beginning of a metal revolution in India. Once the demerger is completed, shareholders will receive shares in each of the four newly demerged entities. Each business will have its own strategic focus, investor base, and growth path, with the potential to grow into 100 billion dollar enterprises. "Each business will get a renewed focus, new investors, and a unique opportunity to achieve its full potential," the chairman stressed.
Economic Times
30-05-2025
- Business
- Economic Times
Vedanta to raise up to Rs 5,000 crore via debentures
Vedanta Ltd's board has approved raising up to Rs 5,000 crore through debenture issuance on a private placement basis. The mining conglomerate reported a significant increase in its consolidated net profit for the March quarter, driven by reduced production costs and increased volumes. The company anticipates completing its business demerger by the end of September. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi, Mining conglomerate Vedanta Ltd on Friday said the committee of directors has approved raising up to Rs 5,000 crore via issuance of committee approved issuance of 5 lakh unsecured, rated, listed, redeemable NCDs of face value of Rs 1 lakh each on a private placement basis, as per a regulatory filing by Vedanta "The duly authorised committee of directors at its meeting held today... has considered and approved the issuance of unsecured, rated, listed, redeemable, non-convertible debentures (NCDs) on a private placement basis... aggregating up to Rs 5,000 crore," the filing issue will be listed on the major Vedanta Ltd reported a 154.4 per cent increase in consolidated net profit to Rs 3,483 crore in the March quarter driven by lower production costs and higher company had posted a net profit of Rs 1,369 crore in the year-ago income of the company during the January-March period rose to Rs 41,216 crore from Rs 36,093 crore in the year-ago period, Vedanta had said in a BSE on March 31, 2025, the company's gross debt stood at Rs 73,853 Agarwal-led Vedanta Ltd expects to complete the demerger of its businesses by the September-end, according to a top company with PTI, Vedanta CFO Ajay Goel said, "We are on track to finish (the demerger) by the second quarter end."Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources, critical minerals, energy, and technology companies spanning across India, South Africa, Namibia, Liberia, the UAE, Saudi Arabia, Korea, Taiwan, and Japan with significant operations in sectors like oil and gas, zinc, lead, silver, copper, iron ore and steel. PTI
