Vedanta Ltd will hold a board meeting on 1 Sept to decide on the first interim dividend of FY22. The share gained close to 2% in trade today. While Vedanta has benefitted significantly from the commodity upcycle, its balance sheet improvement is not as much as its peers. It boasts of a cash balance of around `30,000 cr. Vedanta resources had recently announced a sharpened focus on deleveraging. After attempts to delist Vedanta Ltd were unsuccessful, it used the loans taken to go private to hike its stake in Vedanta Ltd. As a result, the VRL stake has gone from 55% to 65%. The dividend announced will go a long way in providing VRL with the cash it needs to deleverage.
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