So far it seems unlikely that the billionaire’s two children are interested in the business. The lack of a clear succession plan brings even greater urgency to Vedanta’s restructuring exercise.
Vedanta’s Anil Agarwal is one of India’s most successful businessmen. He will turn 70 in January, but remains a wily operator.
“What one is nearly sure of is if Agarwal announces something, he may most probably do the opposite,” says a veteran investor in the stock market, who requested not to be named.
Consider the current situation: His oil-to-metals conglomerate Vedanta Resources needs to repay $2.1 billion this financial year and another $3.8 billion the next fiscal. The deadlines won’t be easy to meet as many of his businesses are facing headwinds. To this end, Agarwal recently announced a major …
Prince leads the newsroom at The Morning Context as managing editor. A fascination with the written word has taken Prince to some of the leading newsrooms across the country, including The Economic Times, Dow Jones Newswires, Forbes India and Moneycontrol. In a career spanning 20 years, Prince has led teams, managed pages, projects and special editions, and has authored The Consolidators, published by Penguin Random House in 2017.
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