Anil Agarwal Eyes US Relisting Of Vedanta Resources To Fund $100 Billion India Metals Push

Vedanta Group chairman Anil Agarwal is exploring a re-listing of holding company Vedanta Resources, with the United States emerging as a likely destination, as the billionaire metals magnate looks to raise capital for a planned $100 billion investment into Indian metals and minerals over the next few years.

Vedanta Resources was taken off the London Stock Exchange in 2018. Agarwal has credited the original London listing as central to the group's growth trajectory and sees a fresh listing in a major international market as the vehicle to fund the next phase of expansion. The US is currently the option being evaluated.

Why Now

The relisting discussion is happening alongside a significant domestic restructuring. Four companies demerged from Vedanta are listing on Monday, taking the group's publicly traded entities from one to five.

Each business unit will now have the ability to raise capital and scale on its own terms rather than operating within a single listed structure.

Aluminium is expected to draw the most investor interest among the newly listed entities. Oil and gas, however, could become the group's largest revenue contributor as government exploration policy becomes more commercially favourable. Agarwal sees the hydrocarbons division, which spans offshore, onshore and gas assets, as a major growth story within the group.

A US listing of Vedanta Resources would give the holding company access to deep international capital markets at a time when it needs to mobilise substantial funds to back the group's India ambitions across metals, minerals and energy.

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The Policy Ask

Agarwal acknowledged that the central government's self-reliance push has removed real obstacles for businesses operating in India's resources sector.

He argued, however, that execution speed could be improved further by moving toward a self-certification model similar to frameworks in Canada, Australia and the United States, where businesses certify their own compliance and face hard financial penalties if they fall short rather than going through a process-heavy approval system.

Source:

Economic Times