Any idea about the timeline of demerger?
already credited… the dividend was credited by 12th Jan
Vedanta Resources, the parent of Indian miner Vedanta Ltd, may sell about $1 billion worth shares in the company to investment firm GQG Partners via block deals, television channel ET Now reported on Wednesday citing sources.
Vedanta did not immediately respond to a Reuters request for comment.
Saddled with $6.4 billion in outstanding debt, including a $4.5 billion payment due by fiscal 2025, Vedanta Resources has been attempting to shore up its finances, including through a recent debt restructuring.
Group Chairman Anil Agarwal has made several bids to trim debt, including an unsuccessful attempt to take the company private in 2020 and plans to split Vedanta into six companies.
$1B stake sale by the promotors may help pare some debt, but as you mentioned more would be required since approx 4.5B$ of debt is maturing by March 2025!
Also the recent statement by SC that the copper smelter in Tuticorin is a National Asset and hence needs to be restarted soon is a big positive!
Technical Analysts also seem to be liking
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