Vedanta promoters held 61.95% stake in the company as of March 31, 2024, down from 63.71% stake they held as of December 31, 2023.
In February this year, the promoters had sold some stake in a block deal, valued at over Rs 2,615 crore.
“We have 62% – 61.3% stake in the company and we are happy with it. If any investment banker comes and gives me some suggestions, we will work on it. (But) at this point of time, there is no plan to bring our stake below 61.5%,” Agarwal said.
Vedanta's promoter shareholding has declined from around 70% to a little over 60% since December 2022.
Aggarwal also spoke about another problem facing Vedanta, which is the debt at the promoter level. As he has said in several interactions earlier, he said the debt situation remains comfortable and all obligations will be taken care of at the parent level.
The Vedanta Group chairman said, “Vedanta promoters will hold 61.95% stake in the company as of March 31, 2024, up from 63.71% they held as of December 31, 2023.” He added, “I think we are very comfortable in resolving the debt. We have good cash flows and a good dividend, which should take care of all the debt repayments of VRM.”
Talking about dividends, according to a report, Vedanta has distributed around Rs 1 lakh crore as dividend in the last decade. CNBC-TV18 Analysis. The company paid a dividend of ₹29.5 in FY24, ₹101.5 in FY23 and ₹45 in FY22. For FY24, Vedanta's dividend yield stood at 11%. You can read more about it here.
Vedanta Limited shares are trading 1.8% higher at ₹456.50. The stock has gained 78% so far in 2024, its best calendar year performance since 2021, during which the stock more than doubled in value.
Also read: Vedanta may give additional dividend of Rs 20 per share