30 March 2024
The Vedanta group company's manufacturing arm, Global Products and Services, produces power transmission components, including conductors, power cables, and overhead wire cables. In November, the company had announced the demerger of its transmission business into a separate entity. In an interview, Agarwal said the company is awaiting the approval for the demerger from the National Company Law Tribunal (NCLT) and expects the process to be completed by the second quarter of FY 25. "The most suitable business for the public markets is our manufacturing business. There are multiple listed players in that space—some are in B2B, some in B2C—and some are capitalizing on the Indian growth story. We are also riding a global growth wave, with 50% of our business coming from exports. We have 40 customers across the US, Europe, Latin America, Southeast Asia, and Australia. So, it is very suitable. Post-demerger, we will evaluate all fundraising options," he added.
The Vedanta group company's manufacturing arm, Global Products and Services, produces power transmission components, including conductors, power cables, and overhead wire cables. In November, the company had announced the demerger of its transmission business into a separate entity. In an interview, Agarwal said the company is awaiting the approval for the demerger from the National Company Law Tribunal (NCLT) and expects the process to be completed by the second quarter of FY 25. "The most suitable business for the public markets is our manufacturing business. There are multiple listed players in that space—some are in B2B, some in B2C—and some are capitalizing on the Indian growth story. We are also riding a global growth wave, with 50% of our business coming from exports. We have 40 customers across the US, Europe, Latin America, Southeast Asia, and Australia. So, it is very suitable. Post-demerger, we will evaluate all fundraising options," he added.
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