As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Vedanta's interest in India's second largest fuel retailer is because of synergies with its existing oil and gas business. A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks to meet liquidity needs. Vedanta Ltd.’s stock touched its highest in nearly a year after 16.6 crore shares of the Anil Agarwal-led mining conglomerate exchange hands in multiple large trades. "Vedanta's EoI for BPCL is to evaluate potential synergies with our existing oil and gas business," the company spokesperson said in a statement. Forgot account? The notes in both cases will be partly secured by shares in the Mumbai-listed unit Vedanta Ltd. Vedanta Resources Limited is a global diversified metals and mining company with its headquarters in London, United Kingdom.It is the largest mining and non-ferrous metals company in India and has mining operations in Australia and Zambia and oil and gas operations in three countries. Stocks to watch today on December 30: Vedanta, RIL, SBI, UPL, Jindal Steel & Power, APL Apollo Tubes among others are the top stocks to watch out for in Wednesday's trading session Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. The way everything is going, towards the end of fourth quarter should be a good time to start,” said Pankaj Malhan, chief executive officer, ESL Steel Limited. ESL, which is into long products, has a capacity of 2.2 million tonnes. 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Vedanta to be Dropped from Nifty 50 as Part of Firm's Proposed Voluntary Delisting; HDFC Life to Move in Based on achieving certain milestones, Vedanta Aluminium will fully acquire Raykal Aluminium in phases. Among the three notably large trades, the first saw 3.7 crore shares exchange hands at Rs 159.7 apiece. Your support through more subscriptions can help us practise the journalism to which we are committed. Log In. The Sensex at the Bombay Stock Exchange gained 133.14 points, or 0.28 per cent, to close at 47,746.22. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Business Standard Digital Monthly Subscription Complete access to the premium product Convenient - Pay as you go Pay using Master/Visa Credit Card & … Some global heavyweights including Oaktree and Apollo Global Management Inc. have either struck recent India deals or scaled up their teams in the country in a push to invest in distressed assets. See more of Business Today on Facebook. Financial & Corporate Highlights. Business News » India News Stocks in Focus on December 31: Pfizer, Vedanta, Adani Green Energy, Bharat Electronics to Chemcon Speciality Chemicals; here are the 5 Newsmakers of the Day Stocks that are likely to remain in focus today include Pfizer, Vedanta… India Business News: Metals and mining magnate Anil Agarwal plans to offer Rs 16,200 crore in cash to take the Mumbai-listed Vedanta Ltd private, the Indian company said o Its main products are Zinc, Lead, Silver, Oil & Gas, Iron Ore, Steel, Aluminium and Power. Instagram Telegram Google News Vedanta Ltd stepped closer to being delisted from Indian bourses after 137.74 crore shares were tendered at the close of the buyback offer made by the promoters. Support quality journalism and subscribe to Business Standard. It was one of the 12 cases mandated ... Key stories on business-standard.com are available to premium subscribers only. SBI Cards and Payment Services would replace Vedanta in these indices. Note: Subscription will be auto renewed, you may cancel any time in the future without any questions asked. Last Updated at December 13, 2020 14:33 IST. Vedanta had on Tuesday informed stock exchanges about its promoters raising USD 1 billion debt by issuing equivalent notes to Citicorp International Ltd and another USD 400 million in notes to an entity under Oaktree Capital Group. Topics We believe in free, fair and credible journalism. That debt issuance was to fund a tender offer for securities due 2021. or. Vedanta Aluminium produces ingots, billets & wire rods that are sold in the markets around the world. Stay on top of your investments. CAMBRIDGE, Mass.--(BUSINESS WIRE)--Vedanta Biosciences, a leading clinical-stage company developing a new … Create New Account. Several media reports, including that from Business Standard, Economic Times and CNBC TV 18, on Wednesday suggested that Vedanta Resources will buy close to 4.9% stake in the Indian unit through block deals. As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. Vedanta Resources to issue $400 million notes to Oaktree Capital business-standard.com - Bijou George | Bloomberg. Business Standard - 2019-11-05 - FRONT PAGE - . See more of Business Today on Facebook. Massive borrowing by Vedanta Resources Ltd. has helped push up Indian firms’ dollar loans to fund the privatization of companies and acquisitions to the most in six quarters. Its main products are Zinc, Lead, Silver, Oil & Gas, Iron Ore, Steel, Aluminium and Power. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". The delisting of Anil Agarwal - led Vedanta Ltd. saw a turn in fortune in the late evening hours of Oct. 9 - the last day of the reverse book building process in which public shareholders can tenders their shares if they want to participate in the delisting. … The product is a monthly auto renewal product. Vedanta (then called Sterlite industries) had humble beginnings in the 1980s, as the founder D.P.Agarwal founded Sterlite Industries (India) Limited in Mumbai and began to buy mining concessions in different states of India. In 2018, Vedanta forayed into the steel business through the acquisition of ESL Steel Limited (then Electrosteel Steels). The approvals are in the last stages. Billionaire Anil Agarwal plans to take Indian commodities giant Vedanta Ltd. private as the tycoon continues to simplify his investments. A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks to meet … Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Pick 5 of your favourite companies. India Business News: Promoters of Vedanta Ltd have pledged their holding in the company to raise $1.4 billion, mostly for repaying the debt that was coming up for maturity Business Standard - 2020-09-15 - COMPANIES - SHINE JA­COB. Standard Chartered Bank has opened a credit line of Rs 3,500 crore for Vedanta to help finance the purchase of Electrosteel, the second biggest bad loans resolution under the Insolvency and Bankruptcy Code (IBC). 9.50 am | 24 Dec 2020 | Business Standard. Vedanta | Promoter Vedanta Holdings to buy up to 4.98 percent stake in Vedanta, source CNBC-TV18. The bank is said to have offered funds in the range of 8.7-9.10%. The stock also touched an intraday low of Rs 146.60, after opening at Rs 147 But certain stocks came in news after the market was closed. We, however, have a request. Team Business Standard, The new deal with Oaktree comes after Vedanta Resources sold $1 billion of securities earlier this month, Last Updated at December 30, 2020 00:25 IST, Coal mining opens doors to pvt players; power distribution fails to reform, Phaneesh Murthy joins BPM firm Sutherland as CEO of its IT services biz, RBI may red-flag Punjab and Sind Bank's Rs 5,500-crore zero-coupon bonds, PE/VC investments into India from China, Hong Kong fall 72% in CY20, Promoters of Vedanta raises $1.4 billion to retire debt, says report, Tatas spread wings in aviation, hike stake in AirAsia India to 84%, Welcomhotel opens its first property in Himachal Pradesh, at Shimla, Air India incurred Rs 3,600 crore cash loss last fiscal: Chairman, Tesla's India entry to make e-cars aspirational, but only for a few, Eventful 2020 saw a six-fold rise in stocks whose returns doubled, Moody's assigns B3 rating with negative outlook to Vedanta's USD notes, Moody's flags Vedanta Resources' failure to take full ownership of unit, Moody's places Vedanta Resources CFR under review for downgrade, London-based Vedanta Resources raises stake in India unit to 55.1%, Vedanta Resources under pressure, sounds out bondholders on debt extension, Access Exclusive content - articles, features & opinion pieces, Weekly Industry/Genre specific newsletters - Choose multiple industries/genres, Access to 17 plus years of content archives, Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box, End of day news alerts on 5 companies (via email). Not Now. The roadshows attracted up to 9 potential investors, including shipping companies from Norway and South Korea, the people said. Elsewhere in India, Oaktree is bidding for shadow lender Dewan Housing Finance Corp., which was seized by the central bank last year. Media/News Company. Anil Agarwal-controlled Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group to meet the liquidity needs. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Exclusive content, features, opinions and comment - hand-picked by our editors, just for you. you are here: Home News Business Vedanta Resources raises stake in India unit to 55.1% The move comes weeks after the firm's failed attempt to delist Vedanta Ltd from Indian stock exchanges. Last Updated at December 30, 2020 00:25 IST. Kindly visit the Manage my subscription page to discover the benefits of this programme. Digital Editor. Vedanta surges 8% after promoters buy additional stake via open market. Copyrights © 2020 Business Standard Private Ltd. All rights reserved. The sec­ond of a four-part series on the In­sol­vency and Bank­ruptcy Code takes a look at how Vedanta re­stored faith of sup­pli­ers and cus­tomers and up­dated prod­ucts to turn around the stressed plant Domestic equity indices advanced for the sixth consecutive day on Wednesday, December 31, 2020. Vedanta Resources Limited is a global diversified metals and mining company with its headquarters in London, England.It is the largest mining and non-ferrous metals company in India and has mining operations in Australia and Zambia and oil and gas operations in three countries. 9/5/2019 Vedanta to work together with Niti for Odisha district | Business Standard News ... You are here: Home » PTI Stories » National » News Vedanta to work together with Niti for Odisha district Vedanta Ltd on Tuesday said it has collaborated with government It was one of the 12 cases mandated for resolution by the Reserve Bank of India under the Insolvency and Bankruptcy Code (IBC). Indian-based metals and mining group Vedanta Resources said Thursday it would fight any attempt by the Zambian government to sell its Konkola Copper Mines (KCM) business to … Business Standard reported that Vedanta owned ESL Steel plans to double capacity from 1.5 million tonnes to 3 million tonnes at an estimate of INT 3,000 crore. India Business News: The Anil Agarwal controlled Vedanta Group said on Wednesday that it has submitted an expression of interest (EoI) for buying the government’s 53% stak This product is a monthly auto renewal product. Vedanta emerged as the highest bidder for the Radhikapur West coal block, located in Angul district, Odisha at a distance of about 190 km from the company's Jharsuguda aluminium smelter NDTV Business More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Unlimited access to all the content on any device through browser or app. Investors in Vedanta Resources Ltd. are turning their attention to the miner’s longer-term plan to streamline a complex group structure that has kept the parent from easily accessing cash at its units. The promoter fixed the price at Rs 150-160 apiece. Track the industry of your choice with a daily newsletter specific to that According to Bloomberg data, 4.5% of the company’s total equity exchanged hands in 17 large trades. In the past month, the stock of Vedanta has zoomed 37 per cent, against 7 per cent rise in the S&P BSE Sensex Vedanta Resources | Securities | Bonds, Bijou George | Bloomberg  Business Standard. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. LONDON, Jan. 5, 2021 /PRNewswire/ -- Vedanta Resources Limited (formerly known as Vedanta Resources plc) (the "Company") hereby announces the … Track the industry of your choice with a daily newsletter specific to that industry. Vedanta Resources Ltd. on December 10, sold $1 billion of securities at one of the highest yields for a dollar bond in Asia this year. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. business-standard.com Vedanta, Hindustan Zinc rally up to 10%, scale 52-week highs In the past month, the stock of Vedanta has zoomed 37 per cent, against 7 per cent rise in the S&P BSE Sensex Your support through more subscriptions can help us practise the journalism to which we are committed. A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks to meet liquidity needs. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". Vedanta says no pledge on shares; fund raise conditions bar promoters from share sale 30 Dec, 2020, 07.57 PM IST. The Economic Times. Vedanta Biosciences was founded by PureTech Health (LSE: PRTC, Nasdaq: PRTC) and a global team of scientific co-founders who pioneered Vedanta’s modern … We, however, have a request. Vedanta Company News Article Vedanta share /stock news, Company news and announcements, Vedanta company latest article and updates, company results, business news on Moneycontrol. Newsletter specific to that industry promoter Vedanta Holdings to buy up to 9 investors! By his two sons, Navin Agarwal and Sunil Agarwal, both of who currently run the...., Steel, Aluminium and Power issuance was to fund a tender offer for Securities due 2021 device browser. At the Bombay stock Exchange gained 133.14 points, or 0.28 per cent, to post another record high 13,981.95... An intraday high of Rs 146.60, after opening at Rs 150-160 apiece the closing of Rs 145.75 ( Electrosteel... Cancel, communicate from your registered email id and send the email with all content. 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