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Vedanta Demerger Plan: Vedanta to demerge its business units into 6 listed companies. Here is what shareholders will get from its demerger.

Vedanta Demerger Plan: Vedanta to create 6 listed companies with the aim to unlock value

Shareholders receiving 1 additional share of each of the five newly listed companies for every 1 share of Vedanta Limited they hold

Vedanta unveils demerger plan; to create six listed entities with an aim to unlock value

<h2>Shareholders receive one additional share of each of the five newly listed companies for every 1 share of Vedanta Limited they hold.</h2>

Vedanta Demerger: Vedanta Limited, led by billionaire Anil Agarwal, has announced a significant move towards value creation by demerging its business units.&nbsp;
<h3>Vedanta to demerge business into 6 listed companies</h3>
The conglomerate plans to establish six separate listed companies: Vedanta Aluminium, Vedanta Oil &amp; Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals, and Vedanta Limited. This decision aims to create independent verticals for metals, power, aluminium, and oil and gas businesses.&nbsp;
<h3>Vedanta demerger plan</h3>
The demerger is structured as a vertical split, with shareholders receiving 1 additional share of each of the five newly listed companies for every 1 share of Vedanta Limited they hold. The move is anticipated to unlock the potential value of each business unit, allowing for faster growth and independent management strategies.
Anil Agarwal, Chairman of Vedanta, highlighted the rationale behind the decision, stating, &ldquo;By demerging our business units, we believe that will unlock value and potential for faster growth in each vertical. While they all come under the larger umbrella of natural resources, each has its own market, demand and supply trends, and potential to deploy technology to raise productivity.&rdquo;
The appointed leaders for the new entities include John Slaven for Vedanta Aluminium, Vibhav Agarwal for Vedanta Power, Chris Griffith for Vedanta Base Metals, and Arun Misra for Vedanta Limited.
The conglomerate, known for its diverse portfolio in metals and minerals, oil and gas, traditional ferrous vertical, and power, is also venturing into the manufacturing of semiconductors and display glass.
Emphasizing their commitment to sustainability, Vedanta stated that each company resulting from the demerger aims to achieve net-zero carbon emissions by 2050 and net water positivity by 2030. They plan to invest $5 billion over the next decade to accelerate this transition.
Notably, Hindustan Zinc, a Vedanta subsidiary, also disclosed plans for corporate restructuring to unlock growth, focusing on separate entities for zinc, lead, silver, and recycling businesses.
Hindustan Zinc experienced a surge of almost 6 percent. Vedanta holds a 64.92 percent stake in Hindustan Zinc as of the June quarter shareholding pattern. Shares of Vedanta had ended 7 percent higher on Friday in what was its best single-day performance in 2023.
Shares of the Anil Agarwal-led mining conglomerate fell to a 31-month low earlier this week following Moody's Investors Service's downgrade of some of the bonds issued by its parent company Vedanta Resources Ltd. and its wholly-owned subsidiaries, as per a CNBC-TV18 report.&nbsp; &nbsp; Vedanta's parent company faces repayment of notes worth nearly $2 billion in 2025. Including these bonds, the company is facing debt repayment worth $3.6 billion in the next financial year, according to Kotak Institutional Equities.

OCCRP has claimed that the Vedanta group had lobbied the government to relax crucial environment policies and that the government had greenlit the changes

A Day After Adani Allegations, OCCRP Releases Report Against Vedanta

OCCRP has claimed that the Vedanta group had lobbied the government to relax crucial environment policies and that the government had greenlit the changes

A day after publishing a report containing multiple allegations against the Adani group, the Organised Crime and Corruption Reporting Project (OCCRP) has turned its attention to the Vedanta group. The report by OCCRP alleges that the Vedanta group, led by Anil Agarwal, orchestrated a "covert" lobbying effort aimed at diluting crucial environmental regulations during the Covid-19 pandemic.&nbsp;
It is further claimed in the report that these changes were greenlit by the Indian government without public consultation.&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/adani-hindenburg-case-mauritius-based-opaque-funds-invested-in-adani-stocks-alleges-occrp-1693455036482">Mauritius based opaque funds invested in Adani stocks, alleges OCCRP</a>
The document cites an instance from January 2021, where Vedanta Group Chairman Anil Agarwal reportedly suggested to the then-environment minister, Prakash Javadekar, that India's swift economic rebound could be bolstered if mining companies were permitted to increase production by up to 50% without the need for additional environmental clearances.
OCCRP claims that it has analysed and obtained various documents and letters supporting its claim through freedom of information request.&nbsp;
&ldquo;Apart from immediately boosting production and economic growth, this will generate huge revenue for the Government and create massive jobs,&rdquo; Agarwal told the minister, recommending that the change could be made with 'a simple notification', stated the OCCRP report
OCCRP further added that two weeks after Aggarwal wrote to Javadekar, the head of the Federation of Indian Chambers of Commerce &amp; Industry lobby group wrote to the environment minister with a similar request. After this, Javadekar sent a letter directing the secretary of his ministry and the director general of forestry to &ldquo;discuss [the] policy issue&rdquo;.
Meanwhile in June Vedanta's CEO Sunil Duggal, wrote directly to PM Narendra Modi, arguing that he could &ldquo;boost the economic engine immediately&rdquo; by scrapping the current method of granting environmental approvals. As per the report, the PMO forwarded the letter to the environment secretary who was already at work to discuss the issue. However, the idea was held back as it faced internal opposition.
But in 2022, after a series of closed door meetings the government relaxed regulations to allow mining companies to increase production by up to 50% without needing to hold public hearings. Many industries consider this public hearings as the most onerous requirement of the environmental clearance process
The report also alleges that Vedanta's oil subsidiary, Cairn India, successfully pushed for the elimination of public hearings for exploratory drilling in oil blocks they secured in government auctions. The report mentioned that since then six of Cairn&rsquo;s controversial oil projects in Rajasthan have been approved despite local opposition.
&nbsp;

Foxconn said on Tuesday it plans to submit an application to access incentives under India’s semiconductor manufacturing policy 

Foxconn seeks chip incentive plan after withdrawal from Vedanta's $19.5 billion JV pullout 

Foxconn said on Tuesday it plans to submit an application to access incentives under India&rsquo;s semiconductor manufacturing policy&nbsp;

A day after Foxconn withdrew from its semiconductor JV with Indian metals-to-oil conglomerate Vedanta, Taiwan's Foxconn on Tuesday said that it plans to apply for incentives that India is offering under its semiconductor manufacturing policy.&nbsp;
"Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem," the company said.
"Foxconn is working toward submitting an application."
On Monday, Foxconn withdrew from its semiconductor JV with Indian metals-to-oil conglomerate Vedanta, in a setback to Prime Minister Narendra Modi's chipmaking plans for India.
Foxconn said on Tuesday "there was recognition from both sides that the project was not moving fast enough" and there were other "challenging gaps we were not able to smoothly overcome", without sharing details.
The company had announced plans to set up its chip plant in Gujarat with an investment of around Rs 1.5 lakh crore.&nbsp;

In order to repay the debt, Vedanta has restarted the process to sell its Tamil Nadu copper plant for Rs 4,500 crore. Vedanta has to pay $2.2 billion debt out of $4.2 billion in FY24

Vedanta likely to sell Tamil Nadu copper plant for Rs 4,500 crore: Report

In order to repay the debt, Vedanta has restarted the process to sell its Tamil Nadu copper plant for Rs 4,500 crore. Vedanta has to pay $2.2 billion debt out of $4.2 billion in FY24

Mining major Vedanta might sell its Tamil Nadu copper plant for Rs 4,500 crore, reported Business Standard. Burdened by debt, Vedanta has been trying to sell the plant since the past year.
Last year, the company had invited Expressions of Interest for the unit but failed to get any favourable response as it has been closed for the past 5 years. As per Business Standard, the process to sell the plant has started again.
&ldquo;The process has now started again with bankers reaching out to potential bidders,&rdquo; Business Standard quoted an unnamed banking source as saying.&nbsp;
Following Tamil Nadu Pollution Control Board's order, the plant was shut down. The company has moved the apex court against the closure and an order is expected by August.
The report further added that Vedanta Resources (VRL), the parent company of Vedanta Limited, is trying to raise funds to repay its debt. The amount raised by selling the unit would help in meeting its capital expenditure of $1.7 billion for this year. Out of the $4.2 billion debt VRL still has to repay $2.2 billion in the current financial year. The company has already paid $2 billion in the first quarter of FY24.&nbsp;

Anil Agarwal’s Vedanta Group will now be  the owners to Venugopal Dhoot's empire of Videocon companies. National Company Law Tribunal approved Anil Agarwal-backed Twin Star Technologies’ bid to acquire Videocon Industries Ltd for ₹2,900 crore. This is against Videocon’s overall debt of around ₹ 46,000 crore meaning banks led by SBI & IDBI will have to take a hit of over ₹42,000 crore. Videocon, which is in multiple businesses ranging from oils to consumer durables, was controlled by the Dhoot family before lenders dragged it to the NCLT in 2017. The NCLT rejected offer by Dhoot to take back the company paving the way for Agarwal's takeover. 

Dhoot's envy Vedanta's pride, Videocon gets a new owner

Dhoot's envy Vedanta's pride, Videocon gets a new owner. Banks to take a hit of over Rs 40,000 cr.

Dhoot's envy Vedanta's pride, Videocon gets a new owner

<a href="https://www.editorji.com/partner/all-india-management-association/the-unstoppable-leading-vedanta-s-relentless-growth-1649870069645" target="_blank">Anil Agarwal&rsquo;s Vedanta Group</a> will now be&nbsp; the owners to Venugopal&nbsp;Dhoot's empire of Videocon&nbsp;companies.&nbsp; National Company Law Tribunal approved&nbsp;Anil Agarwal-backed Twin Star Technologies&rsquo; bid to acquire Videocon Industries Ltd for ₹2,900 crore. This is against&nbsp;Videocon&rsquo;s overall debt of around ₹ 46,000 crore&nbsp;meaning banks&nbsp;led by&nbsp;SBI&nbsp;&amp; IDBI will have to take a hit of over ₹42,000&nbsp;crore.&nbsp; Videocon, which is in multiple businesses ranging from oils to consumer durables, was controlled by the Dhoot family before lenders dragged it to the NCLT in 2017. The NCLT&nbsp;rejected offer by Dhoot&nbsp;to take back the company paving the way for Agarwal's&nbsp;takeover.&nbsp;

The Supreme Court on Tuesday allowed the Sterlite plant in Tamil Nadu to run to produce Oxygen.

Supreme Court okays opening of Sterlite plant in Tamil Nadu to produce oxygen

"National Calamity":&nbsp;The Supreme Court on Tuesday allowed the Vedanta&nbsp;Sterlite plant in Tamil Nadu to operate&nbsp;to produce Oxygen

SC clears opening of Sterlite plant in TN to produce oxygen

The Supreme Court on Tuesday allowed the Sterlite plant in Tamil Nadu to run to produce Oxygen. Rejecting a petition against the opening of the plant, the top court said that Covid surge "is a national calamity". Amid a oxygen shortage, the Supreme Court said that the plant shall be operated to only produce oxygen &amp; for no other purpose.&nbsp;Vedanta submitted before the court that it will supply oxygen free of cost to people in need.&nbsp; Tamil Nadu Government had on Monday allowed Vedanta's Sterlite plant in Tuticorin to re-open for four months only for the production of Oxygen. Vedanta-owned Sterlite copper smelting plant in Tamil Nadu's Thoothukudi was shut in 2018 amid protests by locals over environmental pollution.

The Supreme Court on Tuesday allowed the Sterlite plant in Tamil Nadu to run to produce Oxygen. Rejecting a petition against the opening of the plant, the top court said that <a href="https://www.editorji.com/covid-19" target="_blank">Covid surge</a> "is a national calamity".
Amid a oxygen shortage, the Supreme Court said that the plant shall be operated to only produce oxygen &amp; for no other purpose.&nbsp;Vedanta submitted before the court that it will supply oxygen free of cost to people in need.&nbsp;
Tamil Nadu Government had on Monday allowed Vedanta's Sterlite plant in Tuticorin to re-open for four months only for the production of Oxygen. Vedanta-owned Sterlite copper smelting plant in Tamil Nadu's Thoothukudi was shut in 2018 amid protests by locals over environmental pollution.
Also Read | <a href="https://www.editorji.com/story/tamil-nadu-allows-vedanta-s-sterlite-plant-to-reopen-for-4-months-to-produce-oxygen-1619431602235" target="_blank">Tamil Nadu allows Vedanta's Sterlite plant to reopen for 4 months to produce oxygen</a>

Anil Agarwal-led Vedanta Resources on Tuesday decided to raise the open offer price to buy shares of its India subsidiary to ₹235 per equity share, the company said in an exchange filing. This comes after it raised $1.2 billion via bonds last month. The total funding requirement for the open offer is ₹15,298 crore.
Vedanta Resources had, in January, offered to buy 371 million shares at ₹160 a piece for a 10% share in Vedanta Ltd. It has now hiked the offer to buy 651 million shares for a 17.5% stake.
The latest offer price is at a 4% premium to Vedanta's Tuesday closing price of ₹226 on the BSE.
 

Anil Agarwal 's Vedanta hikes open offer to acquire Indian unit

Sweetening the deal for shareholders Anil&nbsp;Agarwal&nbsp;founded Vedanta hikes open offer price and size in latest attempt to shore up it's holding in the Indian unit.&nbsp;

Anil&nbsp;Agarwal-led Vedanta Resources has raised the open offer for it's Indian shareholders. The new open offer price ₹ 235/share is 47% higher than the previous offer of&nbsp;₹160/share.
The company has also offered to buy 17.5% of the company from the shareholders vs 10% previously.&nbsp;The open offer will start on March 23 and close on April 7.
&nbsp;Vedanta Resources' shareholding in Vedanta Ltd will increase from the current 55.1 per cent to 72.6 per cent post the transaction.

Anil&nbsp;Agarwal-led Vedanta Resources has raised the open offer for it's Indian shareholders.

<a href="https://www.editorji.com/partner/all-india-management-association/the-unstoppable-leading-vedanta-s-relentless-growth-1649870069645" target="_blank">Anil&nbsp;Agarwal-led Vedanta Resources</a> has raised the open offer for it's Indian shareholders. The new open offer price ₹ 235/share is 47% higher than the previous offer of&nbsp;₹160/share.
The company has also offered to buy 17.5% of the unit from the shareholders vs 10% previously.&nbsp;The open offer will start on March 23 and close on April 7.
Vedanta Resources' shareholding in Vedanta Ltd will increase from the current 55.1% to 72.6% post the transaction.

vedanta

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