Vedanta's Anil Agarwal Unveils '3D' Strategy to Double Company's Size

DEMERGER, DIVERSIFICATION & DELEVERAGING

- OUR CORRESPONDENT

NEW DELHI: Billionaire Anil Agarwal on Thursday outlined a bold vision to double the size of his mining conglomerate Vedanta, driven by a '3D' strategy focused on demerger, diversification, and deleveraging.

Addressing shareholders at the company's 60th annual general meeting (AGM), he said the company is confident that the demerger will happen before September and each of the demerged businesses has potential to grow into a $100-billion enterprise.

"Our 3D strategy, demerger, diversification and deleveraging, will enable us to double in size and unlock maximum value for our stakeholders," he said.

The Vedanta Ltd chairman also said the company is in advanced stages of restructuring its business.

"Our demerger proposal has received support from over 99.5 per cent of shareholders and creditors. This is a vote of confidence like no other.

"Once implemented, for every share held in Vedanta Ltd, each shareholder will receive one share in each of the four demerged companies," he explained. Replying to a shareholder during the AGM, Agarwal said that the company is confident that the demerger will happen before September.