Vedanta Share Price Climbs As Anil Agarwal-Owned Firm Said To Be Weighing Stake Sale
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Vedanta Ltd’s share price was climbing on Tuesday as the debt-ridden firm is reportedly weighing a massive stake sale that could alleviate some of its troubles.

What Happened: Anil Agarwal's Vedanta is eyeing a share sale that could raise up to ₹8,500 crore ($1 billion) as early as the coming weeks, Bloomberg reported, citing sources.

Vedanta is collaborating with advisers, including Axis Capital and Citigroup, and has started gauging interest from potential investors, notably Middle Eastern funds, the sources added.

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Shares of Vedanta have surged 78% this year, boosting its market value to around $20.6 billion (1.71 lakh crore). The potential share sale would be a qualified institutional placement, pending shareholder approval.

Vedanta is reportedly contemplating launching the deal soon to capitalise on the rally in Indian equities, though the timeline remains flexible.

Recently, analysts have been upbeat about the management's focus on deleveraging parent entity Vedanta Resources over the next three years and an upsurge in commodity prices.

Price Action: Vedanta’s share price was 1.24% higher at ₹465.40 near the start of trade on Tuesday. The stock has risen around 80% so far this year.

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