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Vedanta’s promoter group firms raises $800 million by pledging shares

29 Nov 2021 Evaluate

Vedanta’s promoter group firms have raised $800 million (about Rs 6,000 crore) by pledging shares in the company. Promoter group firms pledged Rs 242.26 crore or 65.18 percent shareholding in Vedanta in three facility agreements to raise the money. In the first financing deal, Twin Star Holdings entered into an agreement with Standard Chartered Bank, London to avail of an aggregate amount of $400 million.

In the second, Vedanta Netherlands Investments BV secured $150 million from Standard Chartered Bank, London. Vedanta Resources in the third facility raised $250 million from Standard Chartered Bank, Hong Kong. As part of the pledge, the promoter group entities are not permitted to create any encumbrance over any assets held by them unless certain conditions are fulfilled.

 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.

Vedanta Share Price

779.65 -7.95 (-1.01%)
20-Apr-2026 10:10 View Price Chart
Peers
Company Name CMP
Hindalco 1023.90
Vedanta 779.65
Hindustan Zinc 586.75
Jain Resource Recycl 411.55
Gravita India 1674.95
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