Business Standard is happy to inform you of the launch of "Business Standard Premium Services". Track the industry of your choice with a daily newsletter specific to that industry. Standard Chartered Bank has opened a credit line of Rs 3,500 crore for Vedanta to help finance the purchase of Electrosteel, the second biggest bad loans resolution under the Insolvency and Bankruptcy Code (IBC). Unlimited access to all the content on any device through browser or app. Vedanta Ltd.’s stock touched its highest in nearly a year after 16.6 crore shares of the Anil Agarwal-led mining conglomerate exchange hands in multiple large trades. The notes will be partly secured by shares in Mumbai-listed unit Vedanta Ltd., according to separate exchange filings from Vedanta and the U.S. hedge fund.document.write("");googletag.cmd.push(function(){googletag.defineOutOfPageSlot('/6516239/outofpage_1x1_desktop','div-gpt-ad-1490771277198-0').addService(googletag.pubads());googletag.pubads().enableSyncRendering();googletag.enableServices();}); India’s macroeconomic troubles have attracted a wave of global investors betting they can eke out profits from the rising number of capital-starved businesses struggling to stay afloat. See more of Business Today on Facebook. Vedanta Aluminium Limited (VAL) has acquired a 24.5% stake in L & T subsidiary Raykal Aluminium. Domestic equity indices advanced for the sixth consecutive day on Wednesday, December 31, 2020. Create New Account. Create New Account. Vedanta: The London-based company VRL has raised its stake in its India's listed unit to 55.11% by buying 18.5 crore shares at a price of Rs 159.94 apiece, worth … Vedanta Group on Wednesday confirmed putting in a preliminary expression of interest (EoI) for buying government's stake in Bharat Petroleum Corp Ltd (BPCL). A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks to meet liquidity needs. The new deal with Oaktree comes after Vedanta Resources sold $1 billion of securities earlier this month, at one of the highest yields for a dollar bond in Asia this year. News Brief Vedanta's Anil Agarwal Partners With London-Based Centricus Asset Management To Invest $10 Billion In India by Swarajya Staff - Dec 18, 2020 05:07 AM Vedanta emerged as the highest bidder for the Radhikapur West coal block, located in Angul district, Odisha at a distance of about 190 km from the company's Jharsuguda aluminium smelter NDTV Business 9.50 am | 24 Dec 2020 | Business Standard. Forgot account? Vedanta Resources Limited is a global diversified metals and mining company with its headquarters in London, England.It is the largest mining and non-ferrous metals company in India and has mining operations in Australia and Zambia and oil and gas operations in three countries. Vedanta's steel business back on growth turf after Covid-19 speed breaker business-standard.com - Ishita Ayan Dutt. LONDON, Jan. 5, 2021 /PRNewswire/ -- Vedanta Resources Limited (formerly known as Vedanta Resources plc) (the "Company") hereby announces the … Last Updated at December 30, 2020 00:25 IST. Media/News Company. Vedanta had on Tuesday informed stock exchanges about its promoters raising USD 1 billion debt by issuing equivalent notes to Citicorp International Ltd and another USD 400 million in notes to an entity under Oaktree Capital Group. Kindly visit the Manage my subscription page to discover the benefits of this programme. An increase in stake could make it a bit easier for the promoters to delist the company after the mandatory one year cooling off period gets over The loan is for 10 years and Vedanta has given a guarantee, two people familiar with the matter told ET. In the past month, the stock of Vedanta has zoomed 37 per cent, against 7 per cent rise in the S&P BSE Sensex Vedanta's interest in India's second largest fuel retailer is because of synergies with its existing oil and gas business. The bank is said to have offered funds in the range of 8.7-9.10%. Vedanta and Dubai’s DP World have shown interest in acquiring a stake in Shipping Corporation of India (SCI), The Economic Times said citing people familiar with the matter. But certain stocks came in news after the market was closed. Elsewhere in India, Oaktree is bidding for shadow lender Dewan Housing Finance Corp., which was seized by the central bank last year. Anil Agar­wal-led Vedanta is the sole bid­der for Video­con’s 25 per cent stake in the Ravva oil and gas field lo­cated in the shal­low off­shore area of the Kr­ishna-go­davari basin on the eastern coast of In­dia. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Kindly visit the Manage my subscription page to discover the benefits of this programme. The notes will be partly secured by shares in Mumbai-listed unit Vedanta Ltd., according to separate exchange filings from Vedanta and the U.S. hedge fund. Digital Editor. Copyrights © 2020 Business Standard Private Ltd. All rights reserved. The holding company, controlled by billionaire Anil Agarwal, aims to simplify the group’s corporate structure and ease Vendata Resources’ access to cash after a failed attempt to delist Vedanta Ltd. in October. Business Standard. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. 9/5/2019 Vedanta to work together with Niti for Odisha district | Business Standard News ... You are here: Home » PTI Stories » National » News Vedanta to work together with Niti for Odisha district Vedanta Ltd on Tuesday said it has collaborated with government As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. Vedanta Announcement under Regulation 30 (LODR)-Press Release / … The bank is said to have offered funds in the range of 8.7-9.10%. The delisting of Anil Agarwal - led Vedanta Ltd. saw a turn in fortune in the late evening hours of Oct. 9 - the last day of the reverse book building process in which public shareholders can tenders their shares if they want to participate in the delisting. We, however, have a request. Business News » India News Stocks in Focus on December 31: Pfizer, Vedanta, Adani Green Energy, Bharat Electronics to Chemcon Speciality Chemicals; here are the 5 Newsmakers of the Day Stocks that are likely to remain in focus today include Pfizer, Vedanta… Get a daily email with all the news updates on them. Stay on top of your investments. Vedanta Resources Limited is a global diversified metals and mining company with its headquarters in London, United Kingdom.It is the largest mining and non-ferrous metals company in India and has mining operations in Australia and Zambia and oil and gas operations in three countries. Team Business Standard, The new deal with Oaktree comes after Vedanta Resources sold $1 billion of securities earlier this month, Last Updated at December 30, 2020 00:25 IST, Coal mining opens doors to pvt players; power distribution fails to reform, Phaneesh Murthy joins BPM firm Sutherland as CEO of its IT services biz, RBI may red-flag Punjab and Sind Bank's Rs 5,500-crore zero-coupon bonds, PE/VC investments into India from China, Hong Kong fall 72% in CY20, Promoters of Vedanta raises $1.4 billion to retire debt, says report, Tatas spread wings in aviation, hike stake in AirAsia India to 84%, Welcomhotel opens its first property in Himachal Pradesh, at Shimla, Air India incurred Rs 3,600 crore cash loss last fiscal: Chairman, Tesla's India entry to make e-cars aspirational, but only for a few, Eventful 2020 saw a six-fold rise in stocks whose returns doubled, Moody's assigns B3 rating with negative outlook to Vedanta's USD notes, Moody's flags Vedanta Resources' failure to take full ownership of unit, Moody's places Vedanta Resources CFR under review for downgrade, London-based Vedanta Resources raises stake in India unit to 55.1%, Vedanta Resources under pressure, sounds out bondholders on debt extension, Access Exclusive content - articles, features & opinion pieces, Weekly Industry/Genre specific newsletters - Choose multiple industries/genres, Access to 17 plus years of content archives, Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box, End of day news alerts on 5 companies (via email). you are here: Home News Business Vedanta delisting: Anil Agarwal's latest move raises a few questions On May 12, Vedanta said it plans to de-list from Indian stock exchanges Among the three notably large trades, the first saw 3.7 crore shares exchange hands at Rs 159.7 apiece. London-based Vedanta Resources Ltd (VRL) has raised its stake in its India listed unit, Vedanta to 55.11 percent by buying from open market shares worth Rs 2,959 crore. or. Its main products are Zinc, Lead, Silver, Oil & Gas, Iron Ore, Steel, Aluminium and Power. The Economic Times. That debt issuance was to fund a tender offer for securities due 2021. A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks to meet liquidity needs. Read more about that here. This product is a monthly auto renewal product. Your support through more subscriptions can help us practise the journalism to which we are committed. Read more about Promoters of Vedanta raises $1.4 billion to retire debt, says report on Business Standard. Billionaire Anil Agarwal plans to take Indian commodities giant Vedanta Ltd. private as the tycoon continues to simplify his investments. We, however, have a request. The roadshows attracted up to 9 potential investors, including shipping companies from Norway and South Korea, the people said. Unlimited access to all content on any device through browser or app. Related Pages. Log In. Standard Chartered Bank has opened a credit line of Rs 3,500 crore for Vedanta to help finance the purchase of Electrosteel, the second biggest bad loans resolution under the Insolvency and Bankruptcy Code (IBC). or. See more of Business Today on Facebook. Investors in Vedanta Resources Ltd. are turning their attention to the miner’s longer-term plan to streamline a complex group structure that has kept the parent from easily accessing cash at its units. Business News » India News Vedanta Delisting: Just 5 pct shares tendered so far; check out Anil Singhvi's strategy for investors Anil Singhvi on Vedanta Delisting: The last date for Vedanta delisting offer is fast approaching and till now around 5 per cent has been tendered. Vedanta | Promoter Vedanta Holdings to buy up to 4.98 percent stake in Vedanta, source CNBC-TV18. Vedanta is undertaking an expansion program. We believe in free, fair and credible journalism. To cancel, communicate from your registered email id and send the mail with the request to, Access Exclusive content - articles, features & opinion pieces, Weekly Industry/Genre specific newsletters - Choose multiple industries/genres, Access to 17 plus years of content archives, Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box, End of day news alerts on 5 companies (via email). The stock also touched an intraday low of Rs 146.60, after opening at Rs 147 Read more about Vedanta, Hindustan Zinc rally up to 10%, scale 52-week highs on Business Standard. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. Vedanta is ranked #2 in the metals and mining category in the Asia Pacific region this year, as compared to #7 last year. business-standard.com Vedanta, Hindustan Zinc rally up to 10%, scale 52-week highs In the past month, the stock of Vedanta has zoomed 37 per cent, against 7 per cent rise in the S&P BSE Sensex In 2018, Vedanta forayed into the steel business through the acquisition of ESL Steel Limited (then Electrosteel Steels). CAMBRIDGE, Mass.--(BUSINESS WIRE)--Vedanta Biosciences, a leading clinical-stage company developing a new … Track the industry of your choice with a daily newsletter specific to that … Vedanta Resources to issue $400 million notes to Oaktree Capital business-standard.com - Bijou George | Bloomberg. Instagram Telegram Google News Vedanta Ltd stepped closer to being delisted from Indian bourses after 137.74 crore shares were tendered at the close of the buyback offer made by the promoters. Vedanta's Anil Agarwal Partners With London-Based Centricus Asset Management To Invest $10 Billion In India by Swarajya Staff - Dec 18, 2020 05:07 AM Vedanta chairman Anil Agarwal. Vedanta Aluminium produces ingots, billets & wire rods that are sold in the markets around the world. Vedanta emerged as the highest bidder for the Radhikapur West coal block, located in Angul district, Odisha at a distance of about 190 km from the company's Jharsuguda aluminium smelter NDTV Business As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. Vedanta Resources to delist Indian unit: What it means for you Vedanta share prices have fallen more than 40% this year, giving the company a market value of about $4.4 billion. Vedanta-owned ESL Steel is looking to hit the ground with its plan of doubling capacity towards the end of the fourth quarter after hitting a speed breaker due to the Covid-19 pandemic. To cancel, communicate from your registered email id and send the email with the cancellation request to. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Vedanta had on Tuesday informed stock exchanges about its promoters raising USD 1 billion debt by issuing equivalent notes to Citicorp International Ltd and another USD 400 million in notes to an entity under Oaktree Capital Group. Enjoy Reading! Indian-based metals and mining group Vedanta Resources said Thursday it would fight any attempt by the Zambian government to sell its Konkola Copper Mines (KCM) business to … Digital Editor. The Nifty 50 advanced 49.35 points or 0.35 per cent, to post another record high of 13,981.95. "Vedanta's EoI for BPCL is to evaluate potential synergies with our existing oil and gas business," the company spokesperson said in a statement. Last Updated at December 13, 2020 14:33 IST. The notes in both cases will be partly secured by shares in the Mumbai-listed unit Vedanta Ltd. Topics More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Based on achieving certain milestones, Vedanta Aluminium will fully acquire Raykal Aluminium in phases. ESL, which is into long products, has a capacity of 2.2 million tonnes. … Vedanta Biosciences was founded by PureTech Health (LSE: PRTC, Nasdaq: PRTC) and a global team of scientific co-founders who pioneered Vedanta’s modern … Track stock prices in your portfolio. Exclusive content, features, opinions and comment – hand-picked by our editors, just for you. Pick 5 of your favourite companies. Vedanta Resources Ltd. on December 10, sold $1 billion of securities at one of the highest yields for a dollar bond in Asia this year. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Business Standard reported that Vedanta owned ESL Steel plans to double capacity from 1.5 million tonnes to 3 million tonnes at an estimate of INT 3,000 crore. Support quality journalism and subscribe to Business Standard. Is bidding for shadow lender Dewan Housing Finance Corp., which was seized by the central bank Last.! 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