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Vedanta's JAL deal puts govt stake in HZL and Balco at risk: US short-seller
Business Standard
|September 24, 2025
Vedanta’s proposal to acquire bankrupt Jaiprakash Associates Ltd (JAL) poses financial risk to the Indian government, which holds stakes in its units Hindustan Zinc Limited (HZL) and Bharat Aluminium Co. (Balco), according to US-based short-seller Viceroy Research.
Acquiring JAL will be an “unviable” transaction for Vedanta, said Viceroy in a letter to the Department of Investment and Public Asset Management on September 19.
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