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Over the course of four decades, Agarwal painstakingly built Vedanta into a $10 billion conglomerate. However, facing the risk of overwhelming debt, he is now considering dismantling the company. The pressure is escalating on this entrepreneur who began his journey as a scrap metal trader. Specifically, there is a looming challenge: a $1 billion payment due in January, with $600 million still unfunded. This deficit might necessitate the sale of assets. One potential solution to alleviate the debt burden could involve separately listing different business segments, effectively tackling the financial challenges confronting the company. ....
Over the course of four decades, Agarwal painstakingly built Vedanta into a $10 billion conglomerate. However, facing the risk of overwhelming debt, he is now considering dismantling the company. The pressure is escalating on this entrepreneur who began his journey as a scrap metal trader. Specifically, there is a looming challenge: a $1 billion payment due in January, with $600 million still unfunded. This deficit might necessitate the sale of assets. One potential solution to alleviate the debt burden could involve separately listing different business segments, effectively tackling the financial challenges confronting the company. ....
India Business News: Mining conglomerate Vedanta Resources Ltd, owned by billionaire Anil Agarwal, is seeking to restructure $3 billion worth of bonds due in 2024 and 2025 ....
Vedanta Ltd. is reportedly considering a restructuring plan that would involve spinning off its businesses into separate listed entities. The move is aimed at helping Anil Agarwal, the tycoon behind the company, manage its debt load. The businesses that could be separately listed include aluminum, oil and gas, iron ore, and steel. ....