Overview

• Antitrust approval under the IBC enables submission of Vedanta’s plan to the Committee of Creditors, with the CoC’s review and vote still pending.
• Vedanta’s offer totals Rs 17,000 crore, or Rs 12,505 crore in NPV terms, after winning the September 5 open challenge and outbidding the Adani Group as others did not file final bids.
• The proposed consideration is reported as about Rs 3,800 crore upfront followed by Rs 2,500–3,000 crore in annual instalments over five years.
• Creditors with roughly Rs 59,000 crore in admitted claims, led by NARCL, face an estimated haircut of about 71% based on the bid.
• Lenders are seeking contingent payouts linked to the YEIDA land dispute now before the Supreme Court, while CreditSights and S&P flag the transaction as credit negative given loss-making operations and execution risk.