Vedanta Limited adds semiconductors and display glass ventures to its portfolio
NEW DELHI : Vedanta Limited, India’s natural resources and technology conglomerate, announced the addition of Semiconductor and Display Glass ventures to its diversified portfolio, the company said in a statement here today. “We believe that semiconductors and display fab are at the core of any electronics ecosystem. This will also spawn the creation of multiple ancillary industries and opportunities both downstream and upstream, creating jobs and will be a GDP multiplier," said Akarsh Hebbar, Global MD, Vedanta’s Semiconductor and Display Business.
The company had earlier said that it will be called volcan investment, which is a holding company wholly owned by the Agarwal family trust that is not listed on the bourses. The company will leverage its expertise in large-scale manufacturing and operational excellence and partner with the best global companies to drive the two businesses, they said in the statement. Currently, India imports 100 per cent of their requirements for Semiconductor and Displays.
Vedanta Limited’s twin ventures will provide added momentum to the Government’s goal of Atmanirbharta in electronics. This represents a large growth opportunity for India where the semiconductor market stood at $ 24 bn in 2022 and is estimated to reach $ 80 bn by 2026. The display panel market is estimated to be worth $ 7 billion and is expected to grow to $ 15 billion by 2025.
The acquisition will be effected by way of a share transfer at face value of Twin Star Technologies Limited’s (TSTL) Semiconductor and Display SPVs, the company said. TSTL is a wholly owned subsidiary of Volcan Investments Limited, the ultimate holding company of Vedanta Limited. A Memorandum of Understanding (MoU) has also been signed by the
. Read more on livemint.com
