Vedanta’s aluminum, steel, oil businesses may be listed separately: Report

Recently the news has come on the internet that Business tycoon Anil Agarwal’s Vedanta Ltd has been closing a deal under which the business of the companies could be listed individually on the stock market as per the report by the Bloomberg news agency. The company told its lenders of the restructuring and could reveal the programs in the coming days. Since the news came on the internet it went viral on social media platforms. Now many people are very keen to know about the whole information about the news. So let’s start the article. 

Vedanta's aluminum

According to the report, Vedant’s business includes aluminum, iron ore, oil and gas, and steel is going to be individually listed. The move could benefit tycoon Agarwal to manage his metals-to-energy empire’s debt load. Citing sources, the newsagent said that Vedanta Ltd.’s parent, Vedanta Resources, will remain the holding company. but, deliberations have been ongoing and no last judgment on the system or timing of the demerger has been made. Agarwal stated last month that the company will evaluate separately listing all or some of its businesses, which range from metals and mining to oil and gas. Scroll down to the next page for more information about the news.

Yesterday, shares of Vedanta Ltd fell nearly  7% after Moody’s Investors Service devalued the rating of its parent firm Vedanta Resources Ltd. Moody’s demoted the rating of Vedanta Resources due to a high risk of debt restructuring over the next periodic months. The rating agent demoted the rating of VRL to Caa2 from Caa1. Same time, Moody’s has held a negative outlook. Shares in Vedanta Ltd. have dropped by a fifth over the past 12 months, offering the company a market discount of about  77,670 crore. You are on the right page for more information about the news, so please read the complete article.

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VRL’s recognition rate has been denied by its weak liquidity due to large refinancing demands and interest payments amid tightening requirements in global capital markets, the agency noted. Vedanta Resources is shuffling to increase budgets because of rating downgrades and concerns about meeting debt obligations. In 2023, Agarwal sought to trim down the group’s $7.7-billion deficit by getting Hindustan Zinc Ltd, a unit of Vedanta Ltd, to buy some of the parent’s zinc help in a $2.98 billion deal. Here we have shared all the information that we had. Stay tuned to us for more updates.

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Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.