Vedanta Total Debt: Vedanta Resources Limited has taken a big step to deal with the crisis. The company said on Wednesday that it has paid $100 million to Standard Chartered Bank by issuing an encumbrance on March 10. Vedanta has redeemed all these shares kept on loan.
Vedanta Resources Ltd had earlier said it has sufficient funds to meet loan repayment liabilities in the coming quarters as it seeks to allay investors’ concerns about its financial health and repay the loan amount soon. Will give Vedanta Resources is the majority owner of Vedanta Limited, a Mumbai-listed mining, oil and gas company.
debt crisis on the company
A few days ago, questions were being raised about the debt on Vedanta Limited. It has been said in media reports that the company has to repay a debt of $ 1 billion. In its statement on behalf of Vedanta Resources, it has been said that all its loans to be repaid by 2023 have been repaid. It has come down to less than $2 billion in the last 11 months.
Target to repay $ 4 billion debt in three years
According to the PTI report, the company said that it is confident of meeting its liquidity requirements for the quarter ending June 2023. The company said that half of the target of reducing the debt of $ 4 billion in three years has already been completed.
what did the chairman do
Talking to Financial Times, Anil Agarwal had said that everyone wants to give money to Vedanta. Although he did not mention any bank or fund and said that Vedanta is in talks with JP Morgan and other banks for a loan of $ 01 billion at an interest rate of 8-10 percent.