Vedanta Ltd.’s creditors will convene on February 18 to finalize their decision on a proposal to divide the Indian mining conglomerate into five distinct businesses. This move is part of a broader strategy to streamline operations and manage the company\u2019s significant debt.<\/p>\n\n\n\n
The scheme of arrangement would divide Vedanta’s businesses into an aluminum, oil and gas, power, steel, and a semiconductor-focused business. The old entity would retain the electronics and copper assets. Secured lenders had approved an earlier restructuring plan in 2023 with 75% in favor, but what this new plan needs to progress is the final nod from creditors. After that, it needs shareholder approval.<\/p>\n\n\n\n
Vedanta announced the restructuring late last year to increase its valuation and reduce debt at parent Vedanta Resources. The stock has risen more than 50% in the past year, equivalent to a market value of about $19 billion, even though deliberations are still on and the proposal may be amended.<\/p>\n\n\n\n
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com<\/a> Vedanta Ltd.’s creditors will convene on February 18 to finalize their decision on a proposal to divide the Indian mining conglomerate into five distinct businesses. This move is part of a broader strategy to streamline operations and manage the company\u2019s significant debt. The scheme of arrangement would divide Vedanta’s businesses into an aluminum, oil and […]<\/p>\n","protected":false},"author":1,"featured_media":5892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[912],"class_list":["post-5891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-vedanta-split-share"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/5891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=5891"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/5891\/revisions"}],"predecessor-version":[{"id":5893,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/5891\/revisions\/5893"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/5892"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=5891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=5891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=5891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Source: Moneycontrol<\/a><\/sup><\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"