Billionaire Anil Agarwal’s Vedanta Ltd is seeking to sell ESL Steel Ltd, formerly known as Electrosteel Steels Ltd, after acquiring the asset for ₹5,320 crore through a bankruptcy resolution process five years ago, two...
SC dismisses Vedanta’s plea to ask govt to divest its HZL stake in open market
The Supreme Court dismissed Vedanta’s plea to direct the Centre to divest its 29.54% residual stake in Hindustan Zinc (HZL) in the open market, saying it cannot interfere with a “policy decision”. A...
Vedanta kicks off steel business review for likely stake sale
Vedanta has initiated a strategic review of its steel and steel raw materials businesses and may sell a part or all of these businesses. The natural resources conglomerate is looking to sell Electrosteel Steels a little...
Reliance, Adani, Vedanta among companies in race for Bhadreshwar Vidyut
Reliance Industries, Adani Power, Torrent Power, Vedanta and Jindal Power are among 14 companies that have shown interest in acquiring Gujarat-based Bhadreshwar Vidyut, which is undergoing insolvency, said people aware...
Hindustan Zinc’s all-cash bid for Vedanta’s assets lapses: Report
Hindustan Zinc Ltd’s proposal to buy certain zinc assets from Vedanta Group for $2.98 billion in cash has lapsed as the Indian miner did not get shareholders’ approval within the stipulated time limit, said...
Vedanta encumbers stake in HZL to raise Rs 1,500 cr in loans
Anil Agarwal-led resources conglomerate Vedanta has encumbered a part of its stake in Hindustan Zinc (HZL) to raise Rs 1,500 crore in loans against those shares at more than 50% margin to their market value, Vedanta...
Vedanta denies talks of stake sale, calls them ‘untrue’, ‘baseless’
Vedanta Ltd on Thursday termed any talks of sale in oil-to-metals conglomerate as “untrue and baseless.” This comes in the wake of news report which said that mining mogul Anil Agarwal is contemplating...
India opposes Vedanta’s $3 bln zinc assets sale, threatening debt-cut plans
Vedanta Resources’ efforts to manage its debt load were dealt a blow after the Indian government opposed the mining conglomerate’s proposed $2.98 billion deal to move certain zinc assets from its flagship...
Hindustan Zinc to get in touch with mines ministry for resolution on acquisition of Vedanta’s overseas assets
Hindustan Zinc is planning to get in touch with the mines ministry to resolve the differences over the acquisition of overseas assets of holding company Vedanta Ltd, Hindustan Zinc CEO Arun Misra said. Valuation of the...
Government against $3 billion Vedanta international zinc business sale to Hindustan Zinc
The government has raised objections to Vedanta Resources’ proposal to sell its international zinc assets for nearly $3 billion to Indian subsidiary Hindustan Zinc (HZL), people aware of the development told ET...
Adani and Jindal companies, Vedanta in race for GVK Power’s Punjab unit
Adani Power, Jindal Power and Vedanta are among twelve companies that have expressed initial interest in acquiring distressed producer- GVK Power (Goindwal Sahib), said two people aware of the development. GVK Power...
Vedanta set to acquire Meenakshi Energy for Rs 1,440 crore
Debt-laden power company Meenakshi Energy is set to be acquired by Anil Agarwal’s Vedanta Limited after its Rs 1,440 crore bid went through. In an exchange filing, Vedanta said that Rs 312 crore is set to be paid...