Vedanta chief Agarwal makes ‘zero debt’ pledge after investor sell-off

Indian mining mogul Anil Agarwal insists his Vedanta group has ample funding options and aims to become a “zero debt company”. Bonds are currently junk-rated for Agarwal’s natural resources group.

March 9, 2023 . 9:37 AM

1 min read

Indian mining mogul Anil Agarwal has insisted his Vedanta group has ample funding options and that it aims to become a “zero debt company”.
Vedanta borrowed $400mn from Howard Marks’ Oaktree Capital Group in 2020.
Vedanta had “less than $13bn total debt” and becoming “a zero-debt company is not a distant dream, but a medium-term, achievable goal,”.
Vedanta Limited’s share price has tumbled 12% in the past month.
India’s government opposed the merger of Indian and South African zinc assets.