Metals-to-oil conglomerate Vedanta Ltd's move to split into six separate units in the next 15 months may not immediately help its UK-based parent meet a looming payment deadline for about $4.2 billion rupees of debt, at least four brokerages said.
A man walks past the logo of Vedanta outside its headquarters in Mumbai, India January 31, 2018. REUTERS/Danish Siddiqui/File Photomove to split into six separate units in the next 15 months may not immediately help its UK-based parent meet a looming payment deadline for about $4.2 billion rupees of debt, at least four brokerages said.
"The demerger does not solve the debt concern of parent company Vedanta Resources, which must repay about $4.2 billion in debt by FY25," Nuvama analysts said in a research note, saying the split would not improve Vedanta's credit profile. , to buy some of the firm's zinc assets also did not succeed due to opposition from the Indian government, which is a minority shareholder.
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