Anil Agarwal, the accomplished Indian billionaire and Chairman of Vedanta Ltd, continues to make waves as the metals and mining company declares its second interim dividend for the financial year 2023-2024. This dividend, valued at Rs 11 per share, amounts to an impressive Rs 4,089 crore.
While the announcement has sparked discussions online, it offers an opportune moment to delve into Anil Agarwal’s journey, net worth, business ventures, and more.
Agarwal’s Journey to Success:
Born in Patna, Bihar, Anil Agarwal laid the foundation for his success at Miller High School in his hometown. Choosing to assist his father, Dwarka Prasad Agarwal, in the small aluminum conductor business, Agarwal ventured to Mumbai at the age of 19 to pursue his aspirations. Overcoming initial challenges, he acquired the Shamsher Starling Corporation in 1976, marking the beginning of his entrepreneurial journey. In 1993, Agarwal established Sterlite Industries, expanding his empire by acquiring Madras Aluminium and venturing into the mining industry.
Vedanta’s Remarkable Growth:
The recent announcement of Vedanta Ltd’s second interim dividend follows the approval of the first interim dividend earlier this year, set at Rs 18.50 per equity share. The Board of Directors’ decision to distribute dividends showcases the company’s financial strength and commitment to shareholders.
Key Business Acquisitions:
Anil Agarwal’s strategic business moves include acquiring a 51% stake in Bharat Aluminium Company (BALCO) in 2021 and a 65% stake in Hindustan Zinc Limited the following year. In 2003, he founded Vedanta Resources in London, achieving the milestone of being the first Indian company listed on the London Stock Exchange.
Agarwal’s Reflections on Support Received:
Sharing his journey on social media platform X (formerly Twitter), Anil Agarwal, often referred to as the ‘metal king’ of India, expressed gratitude for the support he received during challenging times. He highlighted the encouragement he received from various quarters, including the local tea vendor who extended credit for chai, and the kind guidance from a Syndicate Bank staff member who helped secure a loan for his business.
In acknowledging the significance of small gestures, Agarwal emphasized, “These small acts gave me confidence that my dream of a business can come true.” He urged others to support entrepreneurs on their journey, recognizing the potentially lonely experience of entrepreneurship.
Net Worth and Business Valuation:
According to Forbes, Anil Agarwal’s estimated net worth stands at an impressive $2.01 billion, approximately Rs 16,723 crore. The valuation of Vedanta Ltd currently sits at $12.49 billion, around Rs 1,03,919 crore, according to Mint.
As Anil Agarwal’s journey continues to unfold, his vision and strategic leadership position Vedanta as a prominent player in the Indian business landscape, marking a legacy of success and resilience.
