Vedanta has acquired control over Electrosteel Steels (ESL) and a new board of directors has been put in place.
Investment from Vedanta Star (VSL), a wholly owned subsidiary of Vedanta, in ESL shall be done through a combination of equity of Rs 1,765 crore and inter-corporate loan of Rs 3,555 crore.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.