Metal and mining sector company Vedanta has prepared a new plan to reduce the debt burden. The company is going to repay billions of dollars of debt for this. Vedanta plans to reduce the debt burden by $3 billion in the next 3 years.
Anil Aggarwal's company Vedanta Limited gave information about this plan in a recent analyst meet. The company said in the analyst meet that it plans to reduce the total debt of parent company Vedanta Resources Limited by $ 3 billion by the financial year 2026-27. This work will be done without increasing the debt burden on the listed company in India.
Preparation to sell these assets
Vedanta will sell its iron ore and steel assets in the coming days. Is going to raise money by selling it. The company can monetize its iron ore and steel assets in the first quarter of the financial year 2024-25. Earlier there was a plan to sell them by the last quarter of the current financial year i.e. by March 2024. Now there is a plan to sell them between April to June 2024.
Plan to demerge in six verticals
Vedanta wants to demerge its Indian unit into six different verticals. This can also be completed by the end of the next financial year i.e. in the next one year. Vedanta had merged its various entities between 2012 and 2017. Earlier its plan was also to list more than one company in the stock market.
Scope of rising by 45 percent
Vedanta Resources Limited is a global metal-mining company, whose headquarters is in London. Is in. Vedanta Resources Limited has an Indian subsidiary, Vedanta Limited, which is listed on the stock exchanges in India. Vedanta shares closed at Rs 272.70 with a jump of 1.73 per cent on NSE today. Brokerage firm Nuvama has given it a target of Rs 394 with buy rating. That means there is a scope for this stock to rise by 45 percent.
Disclaimer: The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. ABPLive.com never advises anyone to invest any money.
Also read: Adani's debt is lowest in 5 years, going to make big investment in this state
Get more latest business news updates