Vedanta shares tumble 8% amid block deal; GQG likely buyer
Vedanta’s parent Vedanta Resources (VRL) was looking to sell stake worth $1 billion in the company to Rajiv Jain-led investment firm GQG Partners.
Vedanta’s parent Vedanta Resources (VRL) was looking to sell stake worth $1 billion in the company to Rajiv Jain-led investment firm GQG Partners.
Vedanta Resources, the parent company of Vedanta, faces debt refinancing of $1 billion bonds maturing in Jan 2024, followed by $0.95 bn in Aug 2024, and $1.2 bn in Mar 2025.
Ind-Ra has downgraded Vedanta’s long-term issuer rating to ‘IND AA-’from ‘IND AA’, while placing it on rating watch with negative implications.
Billionaire Anil Agarwal-led firm to demerge its diversified business into six separate listed companies, which will unlock value for its shareholders
Vedanta plans to restructure its businesses such as aluminum, iron & steel, and oil & gas into separate listed entities, which could help its parent company manage its debt load.
The committee of directors of Vedanta on Thursday approved raising up to ₹2,500 crore through the issuance of NCDs in one or more tranches.
For the first time, Hindustan Zinc has paid a royalty of 1.7% of the annual revenue to Vedanta, which will be used by parent, Vedanta Resources, to pare some of its debt.
In FY23, Vedanta declared a total dividend of ₹101.50 per share, which amounted to ₹37,730 crore, the highest ever by Anil Agarwal-led mining firm
With the fifth dividend, Vedanta’s total outgo for the current fiscal will be ₹101.5 per share, which amount to ₹37,730 crore, the highest ever by the company.
Vedanta recently assured investors that it has a "tremendous asset" base, which delivers high cash flows. With current loan repayment, encumbrance has been released, says Vedanta