BREAKING NEWS

Vedanta Limited: Acquisition of Electrosteel Steels Limited

Pursuant to the order dated May 30, 2018 of National Company Law Appellate Tribunal, Vedanta Limited is implementing the approved Resolution Plan for Electrosteel Steels Limited ("ESL"). Accordingly, Vedanta Star Limited ('VSL'), a wholly owned subsidiary of our Company, has deposited the upfront amount of INR 5,320 crore in escrow account of ESL and June 4, 2018 has been determined to be the 'Effective Date' under the Resolution Plan.

The Company has acquired control over ESL and a new board of directors has been put in place.

Investment from VSL in ESL shall be done through a combination of equity of Rs 1,765 crore and inter-corporate loan of Rs 3,555 crore.

About Vedanta Limited
Vedanta Limited is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, aluminium, copper, iron ore and commercial power. The company has a presence across India, South Africaand Namibia. Vedanta Ltd has a portfolio of world-class, low-cost, scalable assets that consistently generate strong profitability and have robust cash flows. The company holds industry-leading market shares across its core divisions.

Vedanta Limited is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Governance and Sustainable Development are at the core of Vedanta's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. The company is conferred with the Confederation of Indian Industry (CII) 'Sustainable Plus Platinum label', ranking among the top 10 most sustainable companies in India.

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