Billionaire Anil Agarwal’s Vedanta unit seeks mega $1.4 billion loan after business split
· economictimes.indiatimes.com
Vedanta Aluminium Metal Ltd. is raising 135 billion rupees from three major banks. Axis Bank, HDFC Bank, and ICICI Bank are providing the substantial loan. This marks the first major local-currency borrowing after the conglomerate's recent split. Proceeds will refinance existing debt inherited from the integrated company structure. The fundraising supports Vedanta's strategy for independent and flexible financing.
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