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Open to stake sale in Cairn India: Anil Agarwal

Agarwal also said Vedanta was interested in BPCL divestment but the valuation of the company has now increased over 40 percent.

February 25, 2020 / 09:26 PM IST
 
 
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Vedanta is working to make Cairn India valuable for investors, Anil Agarwal, Chairman of the diversified oil-to-metals conglomerate told CNBC-TV18.


The company is open to a public issue or stake sale in Cairn India, he said.


The Economic Times had earlier reported that Vedanta is looking to sell a minority stake in Cairn India to a strategic partner to help trim its huge debt of nearly Rs 46,500 crore.


Vedanta may look to dilute up to 25 percent to raise a minimum of Rs 10,500-14,100 crore, the ET report said, adding, Bank of America Merrill Lynch and Barclays have been mandated to run a formal process.

Agarwal also said Vedanta was interested in BPCL divestment but the valuation of the company has now increased over 40 percent.

However, he said, they are open to acquisition of assets across sectors and will evaluate options as and when offered by the government.

Moneycontrol News
first published: Feb 25, 2020 09:23 pm

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