Vedanta’s parent company -- Vedanta Resources has further repaid $400 million of loans, cutting gross debt to $6.4 billion. It has paid all its maturing loans and bonds due in May and June 2023. As such, gross debt has further reduced to $6.4 billion, a $3.3 billion reduction since Vedanta announced its deleveraging ambition in March 2022.
Vedanta’s gross debt as of May 31, 2023 stands at $6.4 billion, down from $6.8 billion at the end of April 2023, $7.8 billion at the end of March 2023, and $9.7 billion at the end of March 2022. It however did not indicate a timeline for reaching zero gross debt.
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.
