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Anil Agarwal Vedanta (owner) Biography, News, Group, Family, Death, LinkedIn and More

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Problems faced by Aanil's Vedanta Group The only major problem faced by Vedanta, the company and Anil was related to the extraction of metals. Anil faced a lot of criticism from activists who opposed Vedanta's plan to extract bauxite from what tribal people say is a sacred mountain in India's impoverished but mineral-rich state of Orissa.

Anil Agarwal ethnically a Marwari is the founder and executive chairman of Vedanta Resources. It all started when Anil came down to Mumbai as a scrap dealer in 1976 to build an empire in copper, zinc, aluminum, and iron ore after leaving his father’s aluminum conductors making business.

Biography

Name Anil Agarwal
Born on 24th January 1954
Place of Birth Patna, Bihar
Educated from Sir Ganesh Dutt Patliputra High School, Bihar
Works for Vedanta Resources Corporation
Valued at $2 Billion
Position Founder, Executive Chairman Vedanta Resources
Married to Kiran Gupta
Children Agnivesh (son) and Priya (daughter)

 

Anil Agarwal’s Career

Much before the Vedanta Group was found; Anil served as the Chief Operating Officer of Orient Ceramics & Industries Ltd and gained an experience of over 31 years as an Industrialist.

In 1976, he founded Sterlite Industries, a business operating in the Industrial sector and then slowly, and gradually he developed and founded Vedanta Resources bringing the variety of businesses, owned by the family, together. Later Anil was also the Chief Executive Officer and Managing Director of Sterlite Industries India Ltd; a subsidiary of Vedanta Resources from 1980 to 2004.

He has been a Director of Sterlite Gold Ltd. since January 1999 and Sterlite Industries India Ltd. since 1978. He is the Executive Chairman of Vedanta Resources since March 2005.

Anil Agarwal has been the Chairman of Sterlite Industries India Ltd. since October 2004. Not only has he been the Non-Executive Chairman of Sterlite Technologies Limited since October 2006 but he also serves as the Chairman of the Board of Bharat Aluminium Company Ltd. (BALCO) and Sterlite Gold Ltd.

Anil is also the Director of Copper Mines Of Tasmania Pty Ltd. He also served as a Director of Hindustan Zinc Ltd (HZL) from April 2002 to March 2009.

Achievements of Anil Agarwal

Anil Agarwal has a number of Board Members Memberships. Some are as follows:

  • Chairman of the Board, Bharat Aluminium Company Ltd.
  • Director, Copper Mines of Tasmania Pty Ltd.
  • Director, Vedanta Resources Holdings Ltd.
  • Non-Executive Chairman and Member of Remuneration Committee, Sterlite Industries (India) Ltd.
  • Chairman, Member of Compensation & Benefits Committee and Member of Audit Committee, Sterlite Gold Ltd.
  • Former Director, Hindustan Zinc Ltd.
  • Founder, Executive Chairman, Chairman of Nominations Committee and Member of Executive Committee, Vedanta Resources Plc.
  • Non-Executive Chairman, Sterlite Technologies Limited.
  • Chairman and Member of Remuneration Committee, Sterlite Energy Ltd.

Problems faced by Aanil’s Vedanta Group

The only major problem faced by Vedanta, the company, and Anil was related to the extraction of metals. Anil faced a lot of criticism from activists who opposed Vedanta’s plan to extract bauxite from what tribal people say is a sacred mountain in India’s impoverished but the mineral-rich state of Orissa.

Vedanta Share Price

Anil Agarwal plans to offer Rs 16200 crore in cash to take the Mumbai-listed Vedanta Ltd private, the Indian company said on Tuesday. Vedanta Resources, the London-based outfit which Agarwal delisted in 2018, is offering Rs 87.5 for a share of Vedanta Ltd to minority shareholders of the BSE/NSE-traded company.

The offer price by Anil Agarwal is at a 2% discount to Vedanta Ltd’s tuesday closing price of Rs 89.30 on the BSE but represents a 10% premium to the stock’s last trading price on the previous day. Vedanta Resources, along with some other companies, holds 50.14% of Vedanta Ltd, while public shareholders own the remaining 49.86%. Agarwal, who started as a scrap dealer and now has a net worth of $3 billion according to Forbes, has been simplifying the corporate structure of his enterprise and the delisting of Vedanta Ltd is part of that effort.

He said in an Interview:

“Due to the impact of Covid-19 pandemic, we have accelerated the simplification strategy in this challenging environment to ensure support for meaningful deleveraging and to enable us to continue to invest in the growth of the business”

Since January,Vedanta Ltd’s shares have fallen 42% giving it a market capitalisation of Rs 33,195 crore. According to India’s delisting rules, if the promoter’s holding exceeds 75% in the company, then the stock can be taken off from trading on the bourses.

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