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As the delisting bid of minerals major <keyword id="28423" type="CITY" weightage="20" keywordseo="vedanta">Vedanta</keyword> Ltd failed last week, the company has said that if successful, the bid would have brought in foreign direct investment (FDI) of $3.15 billion into the Indian economy. In a statement on Tuesday, the company expressed gratitude towards the capital market regulator <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">SEBI</keyword>, BSE, its shareholders, the banks and advisors and exuded confidence that the company would grow as a listed company on the Indian exchanges. It said that launching the delisting bid to garner around 134 crore shares was a "mammoth" task. "We saw enthusiastic participation by our shareholders that took us within striking distance of our goal, short by only 7 per cent," it said. "The bid would have resulted in FDI inflow of over 3.15 billion dollars into the Indian economy and helped boost growth between 0.4 per cent and 0.8 per cent through the multiplier impact of such large infusion of funds," said the statement. It said that Vedanta looks forward to unparalleled opportunities and growth in India and the company is committed to fulfilling the goal of self-reliance in the natural resources sector. On Saturday, Anil Agarwal's Vedanta Ltd announced that its delisting offer had failed due to the requisite number of shares not being offered by shareholders. Vedanta's delisting offer is deemed to have failed in terms of the delisting regulations. It said that 125.47 crore shares were validly tendered by public shareholders. The reverse book building process for public shareholders had concluded on Friday. For successful delisting of the shares, 134.12 crore shares needed to have been validly tendered for the promoter shareholding to cross the 90 per cent shareholding. At 12.45 p.m. shares of Vedanta Ltd on the BSE were at Rs 100.00, higher by Rs 3.05 or 3.15 per cent from its previous close. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/oneplus-chinese-company-co-founder-carl-pei-exits-company-one-day-ahead-of-flagship-mobile-launch/articleshow/78634270.cms">OnePlus co-founder Carl Pei reportedly exits company one day ahead of flagship smartphone launch</a> <a href="https://www.businessinsider.in/stock-market/news/banking-stocks-like-sbi-hdfc-axis-icici-and-other-share-price-in-the-stock-market-ahead-of-the-moratorium-verdict/articleshow/78633357.cms">SBI, HDFC Bank, Axis Bank and other bank stocks tread caution as they wait with bated breath for Supreme Court verdict on moratorium</a> <a href="https://www.businessinsider.in/defense/news/india-china-disengagement-looks-unlikely-with-more-chinese-troops-reportedly-being-deployed-at-the-border/articleshow/78632960.cms">Chinese PLA is reportedly rotating troops despite India's insistence on disengagement from friction points along the border</a> <a href="https://www.businessinsider.in/science/space/news/mars-will-appear-bigger-redder-and-brighter-on-october-13-and-wont-get-this-close-to-earth-again-until-2035/articleshow/78556539.cms">Mars will appear bigger, redder, and brighter on October 13 — and won’t get this close to Earth again until 2035</a>

Vedanta says delisting could bring $3 billion FDI into India

In a male dominated sector, Vedanta is leading by example by employing women in key areas that too at leadership levels. 
 
Vendanta’ Odisha unit has an all-women team who are in-charge of metals and mining projects. 
 
Many women in Vendanta have gotten into revenue generating functions and have contributed immensely to the company’s growth story. 
 
Vendanta’s Anil Agarwal said he was proud to have, arguably, the highest number of women in senior management as benchmarked against its peers. 
 
Saundarya Rajesh, founder president of AVTAR Career Creators &amp; FLEXI Careers India, told ET, "The business case for gender inclusion has long been proven...the sheer fact that a leader like Vedanta is saying that this is possible will itself send out a strong signal." 
 
A slew of research reports, including one from UNDP, show a direct correlation between greater gender diversity and higher GDP. 
 
Reportedly, women make up 5% of Vedanta's top management, 9% of senior management and about 10% at other levels. 
 
It is said that Vendanta will increase this number to 15% over next two years. 
 
"When hiring for leadership roles, our mandate to search firms is to focus on giving us a balanced slate of talent, which includes a good number of women candidates," Madhu Srivastava, head of talent acquisition at Vedanta, told ET.

Vedanta is realising women power! To increase women headcount in key roles by 15%

In traditional Indian method, sons and daughters of a company’s owner take up top posts and the succession goes on. However, <keyword id="894518" type="UNKNOWN" weightage="100" keywordseo="Vendanta-Group">Vendanta Group</keyword>’s owner Anil Agarwal wants to do away with the system and has planned something else. 
 
The founder of the $12.9 billion Vedanta group wants to appoint professional managers rather than kin to top posts. 
 
"As far as succession goes, I am still in command and I am getting all professional chief executives as I do not want a family member to be chief executive of the company," Agarwal, 61, said in an exclusive interview to Economic Times. 
 
"I believe this company should be run by the people. At the same time, family members also bring in some value,” he said. 
 
The financial daily reported that Agarwal, who rose from being a metal scrap dealer to build India's largest natural resources company in the past five decades, has two children-Agnivesh and Priya. His brothers Navin and Pravin, closely associated with Vedanta, also have two children each. 
 
Agnivesh is chairman of Hindustan Zinc, while Priya has been on the Cairn India board as non-executive director since 2012. 
 
Based in Dubai, Agnivesh runs his own business recovering metal from scrap and also manages group unit Fujairah Gold. The United Arab Emirates is also home to the group's precious metals refinery that can process 50 million tonne of gold and 110 million tonne of silver annually. 
 
Agnivesh also acquired a 60% stake in Chennai-based medical diagnostic chain Primex Healthcare in 2012 in his personal capacity. 
 
Priya has been a public relations professional with Ogilvy &amp; Mather and spearheaded the media campaign that sought to give a more friendly aspect to the controversial resources and mining major. 
 Navin is non-executive director of Vedanta Ltd, a subsidiary of the London-listed <keyword id="99389" type="CITY" weightage="80" keywordseo="Vedanta-Resources">Vedanta Resources</keyword>, of which Anil Agarwal is chairman emeritus. Navin has two sons--Naivedya and Ananya. Pravin Agarwal is a whole-time director of Sterlite Technologies, one of India's largest optic fibre cable makers and based in Pune. His sons Ankit and Pratik run the group's ports and power transmission businesses. 
 
"I don't see world over natural resources companies run by families. Our oil and gas business can be run by shareholders as it has become so big that it need not be run by family members,” said Agarwal. 
 
His mandate is to run the company as chief executive and hire the best managers besides formalising and executing a growth strategy. Such professionals know technology and can look at the bigger picture from the perspective of having run large projects for global natural resources companies. 
 
"They are focused on sustainability, an environment policy and our team learns to run companies professionally," he told ET. "I would like to see Vedanta as a transparent and professionally run company... by the people and for the people." 
 
Agarwal sees this as a natural progression. "I think I am going to work for another five years to make sure it is run professionally. I have lots of other opportunities. A Vedanta veteran said the brothers have worked in harmony to build the business,” he added. 
"Once companies reach a large size, it needs professional leaders. Children are not always competent or interested in taking forward the father's business," Mita Dixit, co-founder and head, family business advisory, Equations Management Consulting told ET. "Shareholders are active and want the company to be run in a transparent manner to deliver results... It is prudent to have someone with relevant experience and expertise to run the show." 
 
(Image: Indiatimes)

Anil Agarwal, Vedanta Group's owner, chooses professional managers over kin for top posts

New Delhi, Feb 27 () Shares of Alphageo (India) on Thursday rose nearly 4 per cent after the company received a contract worth Rs 184 crore.On the BSE, the stock closed 3.33 per cent higher at Rs 204.70. It hit an intra-day high of Rs 237.70, up 19.98 per cent.Similar trends were seen on the NSE where the stock hit a high of Rs 237.40, up 19.98 per cent, during the day. It settled 3.11 per cent higher at Rs 204.More than 6.1 lakh shares were traded on the NSE and 89,000 shares on the BSE.Moreover, the spurt in volume was more than 11.13 times during the day on the BSE.The company on Thursday said it has received a contract worth Rs 184 crore from Vedanta Ltd. "Alphageo (India) Limited has been awarded a contract from Vendanta Limited for 2D and 3D seismic data acquisition services in Assam for an estimated contract value of Rs. 184 Crores (inclusive of taxes)," the company said in a BSE filing.The company is engaged in the business of providing seismic survey services to the oil exploration and production sector. RUJ MRMR

You Searched For "Vendanta" and got 4 results

Vedanta says delisting could bring $3 billion FDI into India

IANS

Vedanta is realising women power! To increase women headcount in key roles by 15%

BI India Bureau

Anil Agarwal, Vedanta Group's owner, chooses professional managers over kin for top posts

BI India Bureau

Alphageo shares gain over 3 pc after co bags contract from Vedanta

PTI

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