Vedanta Resources reduces debt by $1 billion to $6.8 billion
Billionaire Anil Agarwal-owned Vedanta Resources on Monday announced that it has reduced its gross debt burden by $1 billion to $6.8 billion and the robust commodity prices would lead to further deleveraging.
The debt-laden Vedanta Resources in February 2022 announced its intention to accelerate deleveraging. Since then, the company has reduced its debt cumulatively by $3 billion. At the end of March 2022, Vedanta Resources debt stood at $9.7 billion.
“Vedanta’s gross debt stands at $6.8 billion as of today, down from $7.8 billion at the end of March 2023 (as announced on 15th February) and down from $9.7 billion at the end of March 2022,” London Stock Exchange-listed Vedanta Resources Limited said in a regulatory filing.
