Vedanta Ltd incorporates Vedanta Base Metals Ltd with authorized share capital of ₹1 lakh. Vedanta share price jumps over 3% following the news of demerger.
Debt management is going to be a worry for the Vedanta group until FY25 at least. However, the restructuring of business divisions in Vedanta India could lead to an unlocking of values.
The group structure is fairly complex. Anil Agarwal-led Vedanta Resources (VRL), which is London-listed, has a lot of debt on the balance sheet.
It will have to repay $1 billion in secured bonds by January 2024 and at least another $300 million in calendar 2024.
Vedanta to complete the sale of its steel assets by March next year: Anil Agarwal financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Vedanta close to raising $3 bn from JP Morgan, Standard Chartered: Report business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.