Vedanta Group to repay debt through strategic sale steel assets

Vedanta Group Chairperson Anil Agarwal on Tuesday announced that the company will repay approximately $4.9 billion in debt through the strategic sale of its iron ore and steel assets. Agarwal said that the sale provides Vedanta with the option of becoming a zero-debt company, despite having the choice to extend the debt. The sale is slated to be completed by March 2024. Meanwhile, the World Bank has warned of food inflation. Watch on for the business updates of the day.