Vedanta cuts net debt by $300 mn in H1

Vedanta Resources Ltd. (VRL) on Monday announced that the company had reduced its net debt by $300 million in the first half of this fiscal and expects to further reduce it 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 had been released, the company said.

Volcan Investments is an investment arm of mining magnate Anil Agarwal.

Shares of VRL’s subsidiary Vedanta Ltd. rose 2.2% to ₹308.40.

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