NIFTY 50

No plan for another open offer; in exploratory talks for BPCL: Vedanta

Updated : December 08, 2020 11:22:36 IST

“At the moment we have no plan to make any open offer and if it’s in the interest of shareholder, we will look at it,” said Anil Agarwal, Chairman of Vedanta, in an interview with CNBC-TV18.

Vedanta’s open offer to delist the company had come a cropper because of poor response from minority shareholders.

Speaking in an interview to CNBC-TV18, he said that production of oil is a very big opportunity in India. “India is the only place which produce and consume,” he said.

According to him, India is in a sweet spot and will grow phenomenally well from here.

Agarwal said his company was in exploratory talks to acquire a stake in BPCL as it was a strategic fit.

“We will keep shareholders’ value in mind while looking at acquiring public sector undertaking (PSUs) and no employee will be retrenched if we gain control of any PSU.”

On intra-group borrowings, Agarwal said, “We assure shareholders that any loan availed by Vedanta Resources will be repaid and no more loans will be taken by Vedanta Resources from Vedanta Limited.”

For entire interview, watch video
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more
Live TV

recommended for you