Vedanta’s parent organization reduces net debt by $300 million in first half of FY22
13th Sep 2021

Vedanta’s parent organization -- Vedanta Resources (VRL) has reduced its net debt by $300 million in the first half of this fiscal and aims to further reduce its debt by $500 million in the second half of FY22. With the entire debt repayment at Volcan, the pledge on all the equity shares of VRL has been released. Its strong operational performance from its world class asset base will strengthen its balance sheet and lead to investment grade credit metrics.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.