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What Hindalco intends to do with the proceeds is still unknown. There are no details beyond the fact that the IPO proceeds will benefit AV, with no direct financial impact on Novelis's balance sheet
Mining conglomerate Vedanta Ltd had announced plans to demerge five of its key businesses, including aluminium, oil and gas, and steel, into separate listed entities with a view to creating shareholder value. According to the filing, 100 per cent shareholding of this unit is currently held by Vedanta Ltd. Vedanta Base Metals Limited is a public company incorporated on October 9 and its main object is to carry out the Metal business.
For the four months ended July, the company’s production rose nearly 20% to 13.15 MT, while sales rose 33.5% to 14.18 MT
In the fourth quarter of this fiscal, the company reported 14.29 MT production which is the highest for any quarter since inception
Mining major Vedanta will fully acquire the debt-ridden power generation company Athena Chhattisgarh Power in a cash deal worth Rs 564.67 crore. It made the ann