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Vedanta’s Anil Agarwal shares how he became the first Indian to list a firm on LSE

Vedanta’s Anil Agarwal shares how he became the first Indian to list a firm on LSE

Vedanta’s Anil Agarwal shares how he became the first Indian to list a firm on LSE
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By CNBCTV18.com Jul 12, 2022 6:25:24 PM IST (Updated)

Explaining the reason for his decision to move to London, he said that he wanted his company to trade at fair value after starting the metal businesses but family businesses's rule over Indian markets kept his company's valuation is low. So, to get the actual valuation for the company, he decided to move to Britain.

Ace industrialist Anil Agarwal, the founder-chairman of Vedanta Resources, on Tuesday took to Twitter to narrate how he became the first Indian to get his company listed on the London Stock Exchange in 2003 and the struggles that followed.

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Agarwal said he decided to move to London almost "overnight". Explaining the reason, he said he wanted his company to trade at fair value after starting the metal business but family businesses were ruling the Indian markets then.
"Global companies were getting listed on the LSE and I wanted to be one of them. In fact, I dreamt of being the biggest, so, I decided to move to London," he said.
Remembering his wife's support at this crucial juncture, he remembered that she went to their daughter Priya’s school and asked for a six-month leave because of her confidence of being back by then.
"She still arranged everything without a doubt, always my biggest support system. I did not pack much but managed to take my mother’s parathas and babuji’s shawl as a symbol of their blessings," Agarwal said.
He further recalled his experience after landing at London's Heathrow airport. "It felt like a different world, foreign people with different accents, cold and rainy weather, big white buildings. I was reminded of everyone who told me - choti chidiya bade aasmano me nahi uda karti. I felt fear after a long time."
He recalled his father's lesson to focus on the journey, and not the end.
"I did not have much when I arrived in London, but I had one thing — the belief and blessings of my margdarshak - my parents, so here I was, enjoying this new journey of life with my wife and children beside me."
He also remembered how double-decker buses, similar to the ones in Bombay has gave him confidence. "I decided to stop doubting myself. After all, I had done it once when I came to Bombay with almost nothing. I could do it again."
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