Vedanta considers the 1st dollar bond sale of $500 million

25 Jun 2024 CW Team

According to two people familiar with the plan, the Indian mining business headed by billionaire Anil Agarwal is thinking of launching its first foreign offering of bonds worth at least $500 million. According to people speaking about private matters, Vedanta Ltd. is debating the strategy with financiers and getting legal advice over the possible sale. One of the people said that the bond offering may reach $1 billion, depending on investor reaction. According to the persons, the corporation is also looking into alternative funding options, including equity sales and local currency loans from domestic banks. The announcement coincides with the fact that, according to Bloomberg statistics, four high-yield dollar bonds offered by Vedanta Resources Ltd., the parent company of Vedanta, are now the best-performing Indian securities this year. The holding business successfully restructured its offshore bonds earlier this year. In the past, Vedanta Ltd. has borrowed money in rupees from local lenders and sold bonds denominated in local currency. The company's board of directors authorised the sale of local, non-convertible debentures for $120 million last week. Aluminium, oil and gas, iron, copper, and semiconductors are among the commodities in which Vedanta has interests. Although it operates mostly in India, it also has activities in Namibia, South Africa, and Liberia. During a conference call with investors on April 25, Executive Director Arun Misra stated that Vedanta is expecting $1.9 billion in capital expenditures in 2024?2025. The money for the expansion would come from the issue of dollar bonds. Agarwal is seeking to split the firm into six distinct business groups as part of a reorganisation that was revealed last year. Vedanta Ltd. would be in charge of the semiconductor, zinc, and stainless steel businesses. According to the corporation, the separation will be finished in the March 2025 fiscal year.

Equipment

11 Dec 2025

Caterpillar Debuts Three New Cat Excavators at EXCON 2025

Caterpillar Inc., a global leader in construction and mining machinery, strengthened its commitment to India’s infrastructure growth with the debut of three new Cat® hydraulic excavators at EXCON 2025, held from December 9–13 at the Bangalore International Exhibition Centre. The new models—Cat 321, Cat 322 and Cat 324—mark a significant step forward in delivering efficient, digital-ready equipment tailored for India’s evolving construction needs.Designed to support sustainability and productivity on modern jobsites, the machines feature advanced powertrains and intelligent electrohy..

JK Tyre Expands OTR Lineup with Four New Launches at EXCON 2025

JK Tyre & Industries, one of India’s leading tyre manufacturers, introduced four new Off-the-Road (OTR) tyres at the 13th edition of CII EXCON 2025, South Asia’s largest construction equipment exhibition, underway at the Bangalore International Exhibition Centre. The latest additions strengthen the company’s OTR portfolio and reaffirm its focus on delivering advanced mobility solutions for construction, mining and industrial operations.The new tyres were unveiled by R Mukhopadhyay, Director (R&D), JK Tyre. Among the highlights was the debut of the SKY GRIP, a specialised tyre des..

ACE, Sanghvi Movers Ink MOU to Boost India-Made Heavy Crane Adoption

Action Construction Equipment (ACE), the world’s largest pick-and-carry crane manufacturer and a leading Indian construction equipment maker, has entered into a strategic Memorandum of Understanding with Sanghvi Movers, Asia’s largest and the world’s fifth-largest crane rental company. The partnership aims to accelerate the deployment of indigenously manufactured heavy slew cranes, particularly truck cranes and crawler cranes, across large-scale infrastructure and industrial projects in India.The alliance aligns strongly with the Government of India’s “Aatmanirbhar Bharat” and “M..