Vedanta planning to list some businesses to unlock shareholders’ value

Agarwal said that in the last two decades Vedanta has entered new business that are import-substitute, ones that create stiff entry barriers for new players.
Vedanta chairman Anil Agarwal ( File Photo)
Vedanta chairman Anil Agarwal ( File Photo)

NEW DELHI: Vedanta Group Chairman Anil Agarwal on Friday said he is planning to list all or some of its businesses separately to unlock shareholders’ value.

Agarwal, in a video message, said the company will take a call based on feedback from advisors.

"I have asked my people,  all these companies are in Vedanta Limited. The whole world is looking to invest in India. I have been told that the investors like pure play. All our business can grow manifold. I have asked all my advisors and my people to look into whether can we have these all products or some products to be independent,” said Agarwal.

He further said that independent management and leadership can grow this business to the highest level.“This means that if you have one share of Vedanta Limited, you will have many shares of other companies and people will have an opportunity to invest in different areas, Some international companies want to invest in a particular area, and they will get that opportunity,” he added.

Vedanta Group has a presence in India, South Africa, Namibia, Liberia, the UAE, South Korea, Taiwan, and Japan.

In the past year, it has been struggling to raise funds to meet its debt obligations. Its credit rating has been downgraded by the credit rating agencies citing funding risks and concerns about meeting debt. It is planning to venture into the semiconductor business and filed an application for PLI incentives.

“Vedanta, in the last two decades has gone into the business, which is more and more import substitute, very difficult for entry into these areas. We have a business of oil and gas, the largest producer of aluminum, completely integrated power, copper, zinc, silver, lead, iron and steel, nickel, ferroalloys, semiconductor display glass, and more,” said Agarwal.

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