Previously, Agarwal sought to trim down the group's $7.7-billion debt by getting Hindustan Zinc, a unit of Vedanta Ltd, to buy some of the its zinc assets in a $2.98 billion deal.
After Vedanta’s $19.5 billion semiconductor joint venture with Taiwan’s Foxconn recently fell through, Agarwal says 100% committed to make semiconductors in India.
Potential deal follows global commodities boom that has fuelled a rally in Mumbai-traded Vedanta Ltd. shares & almost doubled its market capitalisation in the past year to about $17 Bn.
Twin Star, a part of Agarwal’s Vedanta Group, will pay about Rs 30 billion to Videocon’s lenders. Videocon was among the first 12 companies pushed into bankruptcy after directions issued by RBI in 2017.
Anil Agarwal is teaming up with London-based Centricus Asset Management Ltd. to seek investments in Indian companies offering substantial growth opportunities.
Vedanta founder Anil Agarwal is seeking to find gems among dozens of companies being sold by govt, as he tries to repeat his success in building up a metals and mining powerhouse.
Anil Agarwal & his family own 50.1% of Vedanta, whose shares have fallen more than 40% this year, giving the company a market value of about $4.4 billion.
In tactical terms, the shirtless protest was worse than a self-goal. Suddenly, the fiascos of the AI Summit were forgotten, and the Youth Congress’s disruption became the issue.
IAF is fine with accepting the aircraft with 'must-haves', even if some other steps remain pending, which may take at least another year, it is learnt.
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