Vedanta Resources

Zinc International loan would require guarantee from Anil Agarwal-promoted group's India-listed firm

Bankers said the group's bonds have been showing volatility since October last year

Mining mogul Anil Agarwal-led Vedanta Resources Ltd (VRL) has repaid USD 250 million in loans that the company took from Barclays Bank and Standard Chartered Bank, according to regulatory filings. The company had earlier said it has enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns around its financial position. VRL, the majority owner of Mumbai-listed mining and oil & gas company Vedanta Ltd, repaid USD 150 million borrowed from Barclays Bank. "The earlier disclosure was made pursuant to facility agreement dated June 16, 2022...between Twin Star Holdings (borrower), VRL and Welter Trading Ltd (as original guarantors), Deutsche Bank AG acting through its Singapore Branch, and Barclays Bank PLC (as original lender), for the purposes of availing facility of an aggregate amount of USD 150,000,000 by the borrower from the original lender," the company said in a filing to BSE. However, the said facility has been repaid and

Rating agency maintains negative outlook on firm

Will be able to raise targeted $2 bn, says company

Vedanta Resources Ltd. has achieved half of its three-year planned reduction commitment of $4 billion in the first year, the London-based company said in an exchange filing

Sustaining after September 2023 would depend on completing one of two key transactions

The top court's order and cash-for-loans scandal later, rocked the group across verticals; its fate now hinges on SC's ruling on bankruptcy even as the quid pro quo case involving Kocchars goes on

So far, the company's dividend payout in FY23 stands at Rs 25,465 crore, more than the FY22 number of Rs 16,740 crore

Vedanta Resources, the holding company of India's Vedanta Limited, on November 7 terminated the Moody's rating services after the latter downgraded the company's ratings amid debt concerns

Soft prices of commodities including metals is weighing on investor sentiment

Persistently weak liquidity, high refinancing needs triggers rating action

Vedanta's oil and gas business also took a hit due to the windfall tax and lower crude prices in Q2, analysts said

The development acquires significance since Vedanta's holding company, Vedanta Resources, will receive nearly 70 per cent of the dividend to be distributed

Shareholders of Indian unit Vedanta Ltd. will on a company plan to move money out of its reserves and into its balance sheet, increasing the probability that the funds will be used for dividends

Vedanta founder Anil Agarwal was honoured with the Global Indian Award worth $50,000 by the Canada-India Foundation at its 15th annual gala here at the weekend

In a press statement, the group said it will set up a 4-million tonnes a year alumina refinery near bauxite mines as well as an iron ore project

So far, the company's dividend payout in FY23 stands at Rs 18,960 crore, ahead of FY22 total dividend of Rs 16,740 crore

Anil Agarwal-controlled unit looks to raise $700 mn from Indian lenders

Stocks to watch today: IT behemoth Tata Consultancy Services (TCS) is slated to report June quarter 2022 numbers (Q1FY23); Dr Reddy's received two observations from USFDA for its Andhra plant