Vedanta’s $13 Billion Debt Woes
Anil Agarwal-led group is exploring expansions, new businesses and a structural overhaul amid debt worries.
Anil Agarwal-led group is exploring expansions, new businesses and a structural overhaul amid debt worries.
The share price of Vedanta has nearly doubled from its 52-week low of ₹207.85 touched on September 28, 2023.
The dip in net profit attributed to falling prices of metals like zinc, copper, and aluminium, coupled with a lacklustre performance in the oil and gas sector
Anil Agarwal-led company had raised ₹3,400 cr via non-convertible debentures in December 2023, too, taking its debt up to ₹62,493 cr as of Q3 FY24
India’s first all-women rescue team, flexibility in work hours and focus on employee mental well-being help company stand out as a future workplace.
The SEBI in its order said that Vedanta must make the payment within 45 days or face further action.
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.
Parent Vedanta Resources gets board nod to postpone maturity of $3.2 bn in outstanding corporate bonds.
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.
Vedanta’s long-term rating downgraded to 'CRISIL AA-' and revised to 'Watch with Developing Implications'; short-term rating placed on 'Watch Developing'.