Anil Agarwal's Vedanta and Centricus to invest $10 billion in Indian companies
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Synopsis
In recent weeks, Anil Agarwal's Vedanta Group had expressed interest in acquiring Shipping Corporation of India, BPCL and in a separate development was shortlisted as the successful bidder for Venugopal Dhoot’s Videocon's assets. The government of India’s residual stake in Hindustan Zinc is also in play.
Anil Agarwal (File Pic)
Anil Agarwal, Chairman of the
Vedanta Group and Centricus, a London-based investment firm, have announced their intention to launch a fund to deploy $10 billion in Indian companies with "substantial turnaround and growth opportunities." The target businesses will include businesses majority-owned by the Government of India and earmarked for divestment, the statement said.