Vedanta Resources, the London listed miner controlled by Indian billionaire Agarwal Agarwal, has long had a complex corporate structure that has been difficult for investors to understand. Its heavy debt levels have also been a concern among investors and rating agencies.
The company, whose operations span Zambia to South Africa, last month concluded a restructuring that streamlines the company.
“There was a need to simplify the corporate structure,” said Ashish Garg, vice president, corporate finance, in a recent interview with FinanceAsia in Mumbai. “Under the new structure, there is a better alignment of debt and cash,” he added.
Vedanta first proposed a corporate restructuring back in 2008 but the structure it put forward...