Vedanta Debt Crisis: Vedanta refuses to sell stake, know how it will repay billions of dollars debt

Vedanta Debt Crisis: Vedanta refuses to sell stake, know how it will repay billions of dollars debt

Vedanta Total Debt: One of the world’s largest companies in the metals and mining sector, Vedanta Resources Ltd, which is facing severe debt crisis, denied the news of stake sale. Is. The company has made it clear that it is not in talks with any fund regarding the sale of stake (Vedanta Stake Sale) to repay the debt. The company is looking at other funding options to repay the debt (Vedanta Debt Repayment). It was said that the company of London-based industrialist Anil Agarwal (Vedanta Chairman Anil Agarwal) is looking into the possibilities of selling stake to repay the debt. It was claimed in the news that Vedanta Resources Limited is approaching investors for strategic sale of 10 per cent stake in its listed company Vedanta Limited in India. Apart from this, it was also said in the news that the company can also arrange a part of the loan repayment by sending the cash flow of its domestic subsidiaries and the borrowed money to the parent company through dividends.

Vedanta denied the reports

Vedanta Resources Limited has reportedly approached Abu Dhabi’s Mubadala, Bahrain’s Investcorp and Saudi Arabia’s Public Investment Fund for a possible stake sale Has held talks with some Sovereign Wealth Funds and Alternative Asset Managers of Gulf countries including Saudi Arabia’s Public Investment Fund. Apart from this, the news was also claiming to have been contacted by the International Holding Company headed by Sheikh Tahnoon bin Zayed al-Nahyan of Abu Dhabi. However, Vedanta Resources Limited has denied the news related to stake sale. The company clearly says that it has no plans to sell the stake. Refuting the news related to, said, we deny the news of contacting any fund or sovereign wealth fund for taking loan or selling stake. We are in a good position to pay the upcoming installments of the loan. Therefore, the news of Vedanta approaching any fund to raise money is mere speculation and has no basis.

So much money to be paid in three months

Actually Vedanta Resources Ltd. is currently facing a severe debt crunch. The company has to pay about $ 02 billion in the form of loan installments by the end of June. Earlier, Vedanta Resources Limited, the parent company of Vedanta Limited, had told last month that it has already paid all the liabilities till March this year. The company had also expressed confidence about all the payments to be made by the end of the June quarter. Initially, in an interview, he had claimed that the amount of outstanding loan for his company is equal to peanuts. Talking to the Financial Times, he said that it is not a huge amount. The company’s commodities business is generating enough cash and he expects a group profit of $9 billion this year. Anil Agarwal also claimed that everyone wants to give money to Vedanta. However, he did not name any bank or fund.

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