As per the documents, Finsider International UK, a company ultimately held by Anil Agarwals Volcan Investments, has pledged 1.3 billion shares or its entire shareholding in Vedanta Holdings Mauritius II Limited as security for a $1.25 billion loan that Standard Chartered Bank arranged for Vedanta Resources Limited, the groups parent.
Tycoon Agarwal's India Zinc Arm to Pay $305 Million in Dividends bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Promising better value for shareholders, billionaire Anil Agarwal founded Vedanta Limited announced demerger and corporate restructuring of its Indian businesses.
Resources conglomerate Vedanta, which faces bond redemptions exceeding $3 billion over the next 18 months at its UK-based holding company, Friday said it would demerge into six listed companies to undergird the valuations of its revenue streams as diverse as mining, energy, and non-ferrous metals.
Mumbai-listed Vedanta, which produces copper, aluminium, iron ore and crude oil, and is a subsidiary of the London-based Vedanta Resources (VRL), said the exercise was aimed at building a simplified corporate structure that would appeal to focused investors.