Vedanta

/Tag: Vedanta

Vedanta Resources to raise up to $2.5bn for Indian unit delisting

2020-12-11T02:56:27+00:00May 22nd, 2020|India Inc Views - India Global Business, News in Brief|

The metals and mining firm is in talks with global banks to help finance the delisting offer of Vedanta Ltd. Vedanta Resources is reportedly raising up to $2.5 billion in short-term loans from international banks to help finance the delisting offer of Vedanta Ltd. Banks such as JP Morgan, Barclays, Standard Chartered and Citi have been tapped to underwrite the facility in three-month and 12-month maturities. “JP Morgan is the lead banker to the deal. They are also talking to [...]

Anil Agarwal’s Vedanta Resources to delist Indian unit

2020-12-11T03:12:07+00:00May 14th, 2020|India Inc Views - India Global Business, News in Brief|

The company looks to simplify its corporate structure amid the pandemic. Miner Vedanta Resources would take its Indian unit Vedanta Ltd private to simplify its corporate structure amid the COVID-19 crisis. The company said it will delist the Indian unit from all stock exchanges and is willing to accept shares tendered in the offer at price of $1.16 per equity share. Anil Agarwal, Chairman, Vedanta Group said: “Due to the impact of COVID-19 pandemic, we have accelerated the strategy in [...]