Anil Agarwal considering listing Vedanta business separately ‘to ensure better returns for investors’

livemint.com:

Vedanta Limited in May 2020. The company proposed to buy back the shares held by public shareholders and offered a price of ₹87.5 per share.

The delisting attempt failed as Vedanta Limited didn't receive the required number of shares for the delisting offer to go through. The move seems to be another attempt by Vedanta Resources (holding company of Vedanta Limited) to raise funds as the credit agencies are downgrading its outlook for its potential to fulfill debt obligations.

S&P Global Ratings estimated that the funding gap of Vedanta Resources will be $2 billion until August 2024. Recently, Anil Agarwal tried to reduce the conglomerate's debt of $7.7 billion by orchestrating a $2.98 billion transaction.

This involved Hindustan Zinc, a subsidiary of Vedanta Ltd., purchasing certain zinc assets from the parent company. The move was opposed by the Government of India which holds a 30% ownership stake in Hindustan Zinc.