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    No plan to merge Vedanta Resources with Vedanta, says Anil Agarwal; delisting not on the cards

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    No plan to merge Vedanta Resources with Vedanta, says Anil Agarwal; delisting not on the cards

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    In an exclusive interview to CNBC-TV18, Anil Agarwal the founder of Vedanta Resources, the parent company of Vedanta, has said that there will be no move to merge the two.

    Vedanta Resources, the parent company of Vedanta, will not be merged with the latter, said Anil Agarwal the founder in an exclusive interview to CNBC-TV18.  The stock shot up one percent after this clarification. He also said that there were no plans to de-list from the exchanges.
    "We have no plan, we are very comfortable to service the debt on the top so, we have clarified very clearly that this will be our position - there is no question to merge parent company with the Vedanta Limited," he said.
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    On the upcoming BPCL divestment, Agarwal said that Vedanta won't fund the deal.
    "We have always said that the BPCL – Vedanta will not be funding. There is huge interest, if anytime it comes, it will be funded from the fund. Funding will never happen from Vedanta," he said.
    Agarwal said that he was comfortable with a $ 12.5 billion debt which is 1.2-1.3 times the debt-equity ratio. He also said that he had an eye on more stake in Hindustan Zinc.
    "We are very comfortable with government holding of 27 percent. But at any time if they want to divest, because that was their plan, we can take maximum 5 percent unless they go to Securities and Exchange Board of India (SEBI) - as they have done for the Tatas – and take the exemption. We have no plan at the moment to buy entire stake because regulatory we cannot buy. We can buy maximum 5 percent, which we can look at. And I think there should be enough demand in the market where the people will pick up the rest of the shares," he explained.
    Agarwal also clarified that there were no plans to increase the stake in Vedanta from current levels of promoter holding.
    For the full interview, watch the video
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