Vedanta Resources, a major player in metals and oil sectors, is selling a 2.6% stake in its Indian subsidiary, Vedanta, through Finsider International. This decision, announced after earlier denials by Chairman Anil Agarwal, aims to alleviate Vedanta Resources’ substantial $6 billion debt burden, with $650 million already slashed in fiscal 2025. While specific financial terms and buyer identities are undisclosed, the move marks a strategic shift amidst ongoing liquidity concerns and recent credit downgrades. The market responded with initial volatility as Vedanta’s shares saw a 6% drop early on, eventually stabilizing with a 2.7% decline, accompanied by significant trading volume.
Vedanta Resources Initiates Stake Sale in Vedanta to Tackle Debt
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2024/06/27084320/1718874489-5444-ezgif.com-avif-to-jpg-converter.jpg)