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.
On Wednesday, the share price of the metals-to-oil major plunged as much as 6.2% to hit a 52-week low of ₹210.
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.
The stock price got a boost as Anil Agarwal plans to transfer Zambia’s Konkola Copper Mines from his group’s holding company Vedanta Resources to Vedanta.
The investment includes AMD's new campus in Bengaluru which will serve as AMD's largest R&D facility in the world.
Vedanta Semiconductors CEO Hebbar says the firm has engaged with over 100 global suppliers, ancillary industries to form chip & display ecosystem
Foxconn says will soon submit application to govt’s “Modified Programme for Semiconductors and Display Fab Ecosystem”; Vedanta to line up other partners to set up India’s first foundry
Union minister Rajeev Chandrasekhar says Centre will allow both companies to independently pursue strategies for semiconductors
Vedanta in Feb had tied up with Foxconn to make chips; had selected Dholera SIR, Gujarat, for setting up India’s first semiconductor-making facility
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.
