NSE Symbol: VEDL | BSE Code: 500295
Vedanta Ltd was founded in Mumbai, Maharashtra in 1976 by Mr. Anil Agarwal. The headquarters of the company is in London, UK. It was previously known as Sesa Sterlite or Sesa Goa Limited. It is one of the largest global diversified natural resource majors across globe, with operations across aluminum and commercial power, zinc-lead-silver, oil & gas, iron ore, copper.
For more than fifty years, it operated in the exploration, mining, and processing of iron ore. The company was established in 1954, as Scambi Economic SA Goa. Since then, it has developed to be one among the top low-cost iron ore producers in the world. It has also created original and environment-friendly technology for producing high-quality metallurgical coke.
In June 2009, Sesa Goa Limited took over Sesa Resources Limited. In 2010, zinc assets of British miner Anglo American Plc were acquired by Vedanta.
In 2011, 58.5% controlling stake in Cairn India were bought by Vedanta Resources, one of the biggest private sector gas and oil company in India. In 2015, Sterlite Industries and Sesa Goa declared their amalgamation into a single entity. In 2015, the name of Sesa Sterlite was changed to Vedanta Limited. On April 11, 2017, Cairn India joined with Vedanta Limited to amalgamate its position as one of the biggest diversified natural resources companies in the world.
In 2018 Electrosteels Steels Limited was acquired by Vedanta Ltd. An integrated steel plant had been manufactured in Jharkhand at Siyaljori by Electrosteel Steels. The operations of Vedanta Ltd are based in Karnataka, Goa, Odisha, Rajasthan, Punjab Gujarat and Andhra Pradesh, while offices are spread across India.
In 1963, Sesa Goa Limited was registered as a private limited company under The Companies Act, 1956. In 1979, Sesa Goa Private Limited was established, through the merger of Sesa Goa Limitada with Mingoa Sociedade Miniera Goesa S.a.r.l (another mining company in Goa). In 1981, Sesa Goa Limited became a public limited company with 60% stake of Indian shareholders. In 1996, Mitsui & Co. Ltd. of Japan took over Finsider International, while having its 51% stake in Sesa Goa Limited.
In 2007, Vedanta Resources plc took over the controlling stake in Sesa Goa Limited from Mitsui & Co. Ltd.
In 2002, Sesa Group became the first business of its kind to be certified with OHSAS 18001. In 2003, the Sesa Goa equity in Sesa Industries was increased to 88.25% impacting the shareholding pattern.
In 2007, Vedanta Resources Plc, which was founded by Anil Agarwal, acquired 51% controlling stake in Sesa Goa Ltd from Mitsui & Co.Ltd. The stocks of Vedanta Resources are listed on the NSE, London Stock Exchange, and NYSE. The deal was of â‚¹40.7 billion, making it the most significant M&A deal in the industry so far. In 2009, Sesa Goa took over Goa-based Dempo Group mining. It was the second largest acquisition in India's iron-ore industry. In 2011, Sesa Goa bought 51% stake in Western Cluster, Liberia. The community people of Liberia Gola Forest who also suffered from the civil war believed that joining of the Western Cluster will remove their suffering and provide employment.
The Vedanta company has forayed into a unique PPP, with the Ministry of Women and Children Development, GoI to start "Project Nandghar" across India. Vedanta invested the US $37 million towards community development in 2015-16, benefitting over 2.25 million people globally. The Confederation of Indian Industry (CII) ranked Vedanta Limited and its subsidiary Hindustan Zinc among the top ten sustainable firms in India. In FY2016, Vedanta recycled 47% of the fly ash generated through operations, as well as recycled 23% of the water utilized during its operations. But before investing, do your research or choose mutual funds as an alternate option.
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