Key facts
- Vedanta Resources is planning a relisting, with the US being a potential market.
- The company aims to invest $100 billion in India's metals and minerals sector.
- The conglomerate is splitting into five separate listed entities.
- Anil Agarwal suggested implementing a self-certification system for businesses in India.
- He believes the oil and gas division could become a major revenue generator.
Anil Agarwal, the chairman of Vedanta Resources, is planning to relist the commodities conglomerate, with the United States being a potential market for the listing. This move is part of a broader strategy to invest approximately $100 billion into India's metals and minerals sector over the coming years. The conglomerate is undergoing a significant restructuring, dividing into five distinct listed companies to enable independent scaling and capitalize on the growing demand for resources.
Agarwal expressed his vision for substantial investment in India, noting that the company's previous listing in London was instrumental in its growth. He indicated that the US is an option for raising funds through the relisting of Vedanta Resources, which was delisted from the London Stock Exchange in 2018. He also suggested that India could benefit from a self-certification system for businesses, similar to practices in Canada, Australia, and the US, coupled with stringent penalties for non-compliance to expedite execution.