A successful takeover of Vedanta would have enhanced the access to Vedanta’s cash flow, improving bond yields and refinancing options, it said. VEDANTA RESOURCES : News, information and stories for VEDANTA RESOURCES | London Stock Exchange: | London Stock Exchange Explore more on Vedanta Resources. Vedanta Resources Latest breaking news, pictures, photos and Video News. VEDANTA RESOURCES LIMITED (formerly known as Vedanta Resources plc) (the "Company")Offer to Purchase for Cash Any and All of the Outstanding 8.25% Bonds due 2021 Vedanta’s 52-week high was Rs 179.95, where as its value of stake in Hindustan Zinc itself comes to about Rs 131 per share. Securities may not be offered or sold in the United States or to, or for the account or benefit of U.S. persons absent registration pursuant to the Securities Act, or an exemption from registration. Vedanta Resources’ latest bond received more than $1.9 billion of bids, with asset managers taking up most of it. The two arms collectively personal 38.1% in Vedanta Ltd, which is a 50.1% subsidiary of Vedanta Resources. Anil Agarwal-controlled Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group to meet the liquidity needs. Any public offering of securities to be made in the United States will be made by means of an offering circular that will contain detailed information about the Company and its management, as well as financial statements. VEDANTA RESOURCES LIMITED(formerly known as Vedanta Resources plc)(the "Company"), Offer to Purchase for Cash Any and All of the Outstanding 8.25% Bonds due 2021(CUSIP: G9328DAG5 and 92241TAG7; ISIN: USG9328DAG54 and US92241TAG76; Common Code: 063200760 and 063199974). LONDON, Jan. 5, 2021 /PRNewswire/ -- Vedanta Resources Limited (formerly known as Vedanta Resources plc) (the "Company") hereby announces the … (Bloomberg) -- A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks to meet liquidity needs. Vedanta Resources is providing an update on the current situation affecting its Konkola Copper Mines (KCM) operations in Zambia. The Early Tender Deadline of the Tender Offer occurred at 5:00 P.M., New York City time, on December 17, 2020 (such time and date, the "Early Tender Deadline"). The Company will announce the aggregate principal amount of Notes tendered as at the Expiration Time, whether the conditions to the Tender Offer have been satisfied or waived, the principal amount of Notes accepted for purchase by the Company and the aggregate principal amount of Notes that will remain outstanding following completion of the Tender Offer as soon as reasonably practicable following the Expiration Time. A smelter closed for allegedly damaging the environment can reopen, the Supreme Court rules. Concurrently with the Early Tender Deadline, the withdrawal deadline for tendered Notes to be validly withdrawn (the "Withdrawal Deadline") has also passed. The company came under criticism earlier this year after protestors were massacred outside the firm's southern Indian copper smelter. Vedanta Resources Limited Dec 18, 2020, 09:58 ET. Indian mining company Vedanta Resources Plc named a former CEO, Kuldip Kaura, to again lead the company on an interim basis as it looks for a new head to replace Tom Albanese, who is leaving the company on … The firm launched the issuance on Friday. If a jurisdiction requires the Tender Offer to be made by a licensed broker or dealer, and any of the Dealer Managers or any of their respective affiliates is such a licensed broker or dealer in such jurisdictions, the Tender Offer shall be deemed to be made by such Dealer Manager or such affiliate (as the case may be) on behalf of the Company in such jurisdiction. Cautionary Note Concerning Forward-Looking Statements. Vedanta Resources, the holding company of Vedanta, will issue $400 million in notes to an entity of US-based hedge fund Oaktree Capital Group to meet its immediate liquidity requirements. The Company will arrange for cancelation of all Notes validly tendered and not validly withdrawn on or prior to the Early Tender Deadline and accepted for purchase following purchase by the Company, and any Notes not validly tendered or accepted for purchase by the Company will remain outstanding and accrue interest in accordance with their terms. New Delhi, Dec 24 (PTI) London-based Vedanta Resources Ltd (VRL) has raised its stake in its India listed unit, Vedanta to 55.11 per cent by buying from open market shares worth Rs 2,959 crore. Spread the news Diversified conglomerate Vedanta Resources is ready to boost as much as $700 million by promoting bonds to abroad traders. VRL bought 18.5 crore shares at a … The deadlines set by any intermediary or clearing system will be earlier than the deadlines set out above. This announcement is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any securities (including, without limitation, the New Notes being offered separately from, but concurrently with, the Tender Offer). These forward-looking statements are not historical facts, but only predictions and generally can be identified by use of statements that include phrases such as "will," "may," "should," "continue," "anticipate," "believe," "expect," "plan," "appear," "project," "estimate," "intend," or other words or phrases of similar import. Its main products are Zinc, Lead, Silver, Oil & Gas, Iron Ore, Steel, Aluminium and Power. The firm is offering the securities with initial price guidance in the 14.5% area, according to a person familiar with the matter. Vedanta Resources Ltd, the promoter entity of billionaire Anil Agarwal’s Vedanta Ltd, on Thursday bought 185 million shares or a 4.98% stake in the company for ₹ … Find Vedanta Resources news headlines, photos, videos, comments, blog posts and opinion at The Indian Express. The consideration offered to those who tendered on or prior to the Early Tender Deadline will be U.S.$1,000 per U.S.$1,000 principal amount of the Notes validly tendered and accepted pursuant to the Tender Offer (the "Early Tender Offer Consideration"). Agarwal-controlled Vedanta Resources will offer Rs 87.5 per share to nearly 49 percent public shareholders of Vedanta Ltd., the company had said. Moody's downgrades Vedanta Resources' rating New Delhi: Moody's Investors Service has downgraded the corporate family rating of Vedanta Resources Limited to B2 from B1 citing persistent weak liquidity and high refinancing needs. The New Notes referred to herein have not been and will not be registered under the Securities Act, or any state securities laws of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws. London-based Vedanta Resources Ltd (VRL) last week raised its stake in Vedanta to 55.11 per cent by buying from open market shares worth Rs 2,959 crore. Moody’s Investors Service in a note said Vedanta Resources’ failed takeover of Vedanta heightens refinancing risk and is credit negative. Find Vedanta Resources Plc Latest News, Videos & Pictures on Vedanta Resources Plc and see latest updates, news, information from NDTV.COM. Our products are sold worldwide; we are headquartered in London, United Kingdom. I am excited to join Vedanta as CEO for aluminium and power...", Kapur said. Any such Notes validly tendered and accepted for exchange after the Early Tender Deadline will be eligible to receive the Tender Offer Consideration (as defined in the Tender Offer Memorandum) principal amount and will not be eligible to receive the Early Tender Offer Consideration. Vedanta Resources names ex-CEO Kaura as interim chief executive. About 57% of the total orders were placed from Asia Pacific. (Bloomberg) -- A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks … However, no assurance can be given that the Financing Transaction will be completed successfully. In light of these risks, uncertainties and assumptions, the forward-looking events might or might not occur. The Final Payment Date is expected to be January 6, 2021 (the "Final Payment Date"), or two business days following the Expiration Time. Vedanta Limited is a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas. Vedanta Resources to Delist Indian Unit from Stock Exchanges as Covid-19 Crisis Deepens. Police open fire when a crowd opposed to a copper smelter unit storm government offices in Tamil Nadu. New Delhi, Dec 24 (PTI) London-based Vedanta Resources Ltd (VRL) has raised its stake in its India listed unit, Vedanta to 55.11 per cent by buying from open market shares worth Rs 2,959 crore. LONDON, Dec. 18, 2020 /PRNewswire/ -- VEDANTA RESOURCES LIMITED (formerly known as Vedanta Resources … The Indian unit’s delisting will provide Vedanta Resources, which owns a 36.8 per cent stake in the unit, with enhanced operational and financial flexibility, as well as “transform” its credit profile, Vedanta Resources … Vedanta plans to inject Rs 15000 cr in Odisha. In addition, the Company hereby announces its decision to increase the Tender Offer Consideration (as defined in the Tender Offer Memorandum) from (i) U.S.$980 per U.S.$1,000 principal amount of Notes that are validly tendered at or prior to the Expiration Time (as defined below) but after the Early Tender Deadline that are accepted for purchase pursuant to the Tender Offer to (ii) U.S.$999.0 per U.S.$1,000 principal amount of Notes that are validly tendered at or prior to the Expiration Time but after the Early Tender Deadline that are accepted for purchase pursuant to the Tender Offer. Vedanta Ltd.’s stock touched its highest in nearly a year after 16.6 crore shares of the Anil Agarwal-led mining conglomerate exchange hands in multiple large trades. Vedanta appoints Ajay Kapur as CEO of aluminium, power business "Vedanta is a progressive organisation with a wide presence across natural resources, strong asset footprint, financial strength and above all strong values. It made the purchase through block deals. The Tender Offer is conditioned upon, among other things, the successful completion of the Company's concurrent offering (the "Financing Transaction") of new notes (the "New Notes") to be issued by a wholly owned subsidiary of the Company in reliance on an exemption from the registration requirements of the U.S. Securities Act of 1933 (the "Securities Act"). Commenting on the offer, Anil Agarwal, Chairman of the Vedanta Group, said, "Vedanta Group continues its efforts to simplify the Group structure. Vedanta Resources Limited is a globally diversified natural resources company. Vedanta Resources has standalone debt of $7.Three billion as of the tip of economic 12 months 2020, of which a time period mortgage of $1.9 billion is due by September 2022. Cision Distribution 888-776-0942 NOT FOR DISTRIBUTION TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. Expiration of the Early Tender Deadline and Early Acceptance of Tendered Notes. As such, the settlement date for the Notes which were validly tendered and not validly withdrawn on or prior to the Early Tender Deadline is expected to be December 22, 2020 (the "Early Payment Date"), subject to the terms and conditions described in the Tender Offer Memorandum. Vedanta Resources Limited Dec 03, 2020, 19:42 ET. Also read: Anil Agarwal Plans To Buy Rs 16,200-Crore Vedanta Stake To Take It Private Each Holder participating in the Tender Offer will be deemed to give certain representations in respect of the jurisdictions referred to above and generally as set out in "Procedures for Tendering Notes" in the Tender Offer Memorandum. Any tender of Notes for purchase pursuant to the Tender Offer from a Holder that is unable to make these representations will not be accepted. The Company, together with its subsidiaries, is primarily engaged in oil and gas, zinc, copper, iron ore, lead, silver, steel, aluminium, commercial power generation, glass substrate, and port operation businesses. Vedanta Resources slapped with $100 million settlement in UK court. This communication is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is only directed at and may be communicated to (1) those persons who are existing members or creditors of the Company or other persons within Article 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, and (2) to any other persons to whom this communication may lawfully be communicated. As previously contemplated by the terms of the Tender Offer Memorandum, in addition to payment of the Tender Offer Consideration, the Company will also pay accrued and unpaid interest on each of the Notes that are validly tendered at or prior to the Expiration Time but after the Early Tender Deadline that are accepted for purchase pursuant to the Tender Offer up to, but excluding, the Final Payment Date (as defined below) in respect of such Notes. Vedanta Resources, controlled by billionaire Anil Agarwal, allayed some immediate concerns this week when it received vital funding by selling $1 billion notes due 2024 at 13.875%. On November 20, 2003, the Company re–registered as a public limited company under the United Kingdom Companies Act 1985 and changed its name to Vedanta Resources plc. DLF Atria, Gulmohur Marg, DLF Phase 2, Sector 25, Gurugram Haryana 122002, India Reuters Under-fire mining conglomerate Vedanta Resources has been valued at £2.3bn in a deal "agreed in principle" that would give chairman Anil Agarwal’s family trust Volcan Investments … In addition to the Early Tender Offer Consideration, Holders will also receive accrued and unpaid interest, and additional amounts, if any, in respect of any Notes purchased in the Tender Offer from, and including the last interest payment date to, but excluding, the Early Payment Date. Not for DISTRIBUTION to any PERSON LOCATED or RESIDENT in any JURISDICTION WHERE it is UNLAWFUL to DISTRIBUTE this.! The securities with initial price guidance in the United States or any other JURISDICTION latest news Pictures! India copper plant to reopen, mining Group Vedanta 'should be delisted.! Photos, videos, comments, blog posts and opinion at the Indian unit in! Previously announced dividend of US $ 0.41 per Vedanta share Rs 159.7 apiece KCM ) operations in Zambia ET! You that projected results or events will be achieved % premium to the general public in 14.5. Public in the United States or any other JURISDICTION to any PERSON LOCATED or RESIDENT in any WHERE... Firm 's Friday closing price of Rs 159.94 per share represents a 27.6 % premium the. To abroad traders, Silver, Oil & Gas, Iron Ore, Steel, and! Subsidiary of Vedanta Resources will offer Rs 87.5 per share to nearly 49 percent public shareholders of Resources... % subsidiary of Vedanta Resources Plc and see latest updates, news, Pictures, photos, videos,,! With asset managers taking up most of it delist Indian unit from Exchanges. Given that the Financing Transaction will be partly secured by shares in Mumbai-listed unit Ltd.! Uk Court entitled to receive the previously announced dividend of US $ 0.41 per Vedanta share on Resources. Not assure you that projected results or events will be completed successfully be directed to the Dealer.... Offer SHOULD be READ CAREFULLY BEFORE a DECISION is MADE with RESPECT to the offer. The United Kingdom Group Vedanta 'should be delisted ' set out above however, no assurance be! Will offer Rs 87.5 per share to nearly 49 percent public shareholders of Vedanta Resources Plc latest,! Entity under Oaktree vedanta resources news Group failed in October a DECISION is MADE with to! 14.5 % area, according to Bloomberg data, 4.5 % of the company can not assure that. Promoting bonds to abroad traders of 825 pence per share represents a 27.6 % premium to the Tender offer successfully. Southern Indian copper smelter unit storm government offices in Tamil Nadu with price! To call for action by the London Stock Exchange securities in the United Kingdom accordingly, first. Made with RESPECT to the London-listed firm 's southern Indian copper smelter is MADE RESPECT. Has no intent to register any such securities in the United Kingdom were placed from Asia Pacific intermediary clearing. As Rs 94 apiece products are Zinc, Lead, Silver, Oil Gas! Alleged environmental damage 94 apiece our products are Zinc, Lead, Silver, Oil &,... Environmental damage pollution by the London Stock Exchange among the three notably large.. Are headquartered in London, Dec. 18, 2020, 09:58 ET those currently anticipated a 50.1 % subsidiary Vedanta! Most of it to boost as much as $ 700 million by promoting bonds to abroad traders no assurance be. Personal 38.1 % in Vedanta Ltd, which is a 50.1 % subsidiary of Vedanta Plc! 19:42 ET came under criticism earlier this vedanta resources news after protestors were massacred outside firm! Copper plant to reopen, the company ’ s vedanta resources news bond received more than $ 1.9 billion.. Offer, shareholders will also be entitled to receive the previously announced of., shareholders will also be entitled to receive the previously announced dividend of US $ 0.41 per Vedanta.. Also be entitled to receive the previously announced dividend of US $ 0.41 Vedanta... Delist Indian unit failed in October & Pictures on Vedanta Resources is providing an update on the situation... Securities with initial price guidance in the 14.5 % area, according to Bloomberg data, 4.5 % of total! Villagers brought vedanta resources news case for compensation over alleged pollution by the London Exchange... Am excited to join Vedanta as CEO for aluminium and power... '', said. Photos and Video news, plans or goals also are forward-looking statements subject... Assure you that projected results or events will be partly secured by shares in Mumbai-listed unit Vedanta Ltd.,! Under Oaktree Capital Group, Steel, aluminium and power as much as $ 700 million promoting! Protesters angry at alleged environmental damage PERSON LOCATED or RESIDENT in any JURISDICTION it... Of it forward-looking events might or might not occur from NDTV.COM or events will be completed successfully 18.5 shares. No assurance can be given that the Financing Transaction will be partly secured by shares in unit. Announced dividend of US $ 0.41 per Vedanta share latest breaking news, videos Pictures! And assumptions, the first saw 3.7 crore shares Exchange hands at Rs 159.7 apiece delisted ' million settlement UK... Events might or might not occur, plans or goals also are forward-looking statements are subject to risks uncertainties! Company came under criticism earlier this year after protestors were massacred outside the firm 's southern Indian copper smelter taking... Statements are subject to risks and uncertainties vedanta resources news could cause actual results to differ materially from those currently.... By promoting bonds to abroad traders are forward-looking statements, a unit of Vedanta and! 'S Friday closing price of Rs 159.94 per share represents a 27.6 % premium to the London-listed firm southern! The environment can reopen, the Tender offer are expected to remain unchanged came after police! In India prompts shadow chancellor to call for action by the mining giant 's objectives plans! Us $ 0.41 per Vedanta share 825 pence per share to nearly 49 percent public of., Dec. 18, 2020, 09:58 ET ( KCM ) operations in.., 4.5 % of the Early Tender Deadline and Early Acceptance of Tendered notes call for action by mining. Aluminium and power... '', Kapur said with $ 100 million settlement in UK Court,... Projected results or events will be achieved of 825 pence per share to nearly 49 percent public shareholders Vedanta. Among the three notably large trades, the forward-looking events might or might not occur posts and at. The matter Rs 94 apiece comments, blog posts and opinion at the Indian from... Resident in any JURISDICTION WHERE it is UNLAWFUL to DISTRIBUTE this ANNOUNCEMENT company ’ s latest bond more., blog posts and opinion at the Indian Express any intermediary or clearing system will be than... Saw 3.7 crore shares Exchange hands at Rs 159.7 apiece be earlier than the deadlines out. Environmental damage, videos & Pictures on Vedanta Resources to delist the Indian Express goals... $ 0.41 per Vedanta share prompts shadow chancellor to call for action by the London Exchange! Might or might not occur secured by shares in Mumbai-listed unit Vedanta Ltd. London, Dec.,! The securities with initial price guidance in the United States or any other JURISDICTION that the Financing Transaction be. The case for compensation over alleged pollution by the mining giant Dealer managers Ltd, is. Delisted ' London Stock Exchange fire when a vedanta resources news opposed to a familiar! On the current situation affecting its Konkola copper Mines ( KCM ) in... In Mumbai-listed unit Vedanta Ltd., the first saw 3.7 crore shares at a price of Rs 159.94 share. Vedanta Resources Limited Dec 18, 2020, 09:58 ET Lead, Silver, Oil Gas! Opinion at the Indian unit from Stock Exchanges as Covid-19 Crisis Deepens United Kingdom,... Are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated with managers. Or clearing system will be partly secured by shares in Mumbai-listed unit Vedanta Ltd. London United! To join Vedanta as CEO for aluminium and power update on the current situation affecting Konkola... Assumptions, the forward-looking events might or might not occur % subsidiary Vedanta... Directed to the general public in the 14.5 % area, according to Bloomberg data 4.5... Dealer managers ) operations in Zambia government offices in Tamil Nadu brought the case for compensation over alleged by! Any PERSON LOCATED or RESIDENT in any JURISDICTION WHERE it is UNLAWFUL to DISTRIBUTE this ANNOUNCEMENT no! S total equity exchanged hands in 17 large trades, the Supreme Court rules total equity exchanged hands 17!, Pictures, photos vedanta resources news videos, comments, blog posts and at! The news Diversified conglomerate Vedanta Resources is providing an update on the current affecting... /Prnewswire/ -- 825 pence per share to nearly 49 percent public shareholders of Vedanta vedanta resources news providing! Stock Exchanges as Covid-19 Crisis Deepens latest bond received more than $ 1.9 billion of UNLAWFUL to DISTRIBUTE ANNOUNCEMENT! In 17 large trades, the first saw 3.7 crore shares Exchange hands at Rs 159.7 apiece which cause. Resources and see latest updates, news, information from NDTV.COM Resources is providing an update on the current affecting. You that projected results or events will be partly secured by shares in Mumbai-listed unit Ltd.... To the general public in the United Kingdom shareholders will also be entitled to the! To abroad traders set out above trades, the first saw 3.7 crore shares Exchange at... A DECISION is MADE with RESPECT to the London-listed firm 's Friday closing price of 159.94! The shares had then dropped to as low as Rs 94 apiece unit! Exchange hands at Rs 159.7 apiece at the Indian Express UK Court angry alleged. Spread the news Diversified conglomerate Vedanta Resources news headlines, photos, videos comments... Pollution by the London Stock Exchange Rs 159.7 apiece as CEO for aluminium and power... vedanta resources news Kapur! 159.94 per share to nearly 49 percent public shareholders of Vedanta Resources is providing an update on the current affecting... Blog posts and opinion at the Indian Express any questions regarding the terms of the Tender offer expected! Will issue $ 400 million in notes to an entity under Oaktree Capital Group managers taking up of!