Billionaire Anil Agarwal’s Vedanta Resources Ltd. is on a quest for cash. The junk-rated mining conglomerate has approached investors to restructure about $3 billion worth of bonds due in 2024 and 2025, while splitting its sprawling group to unlock better value for individual businesses. But debt investors aren’t convinced, and the group’s dollar bonds are tumbling. What is the plan for overhauling the group? Indian unit Vedanta Ltd. last week approved a plan to separate its business into six listed companies: aluminum, oil and gas, power, steel and ferrous, base metals and an incubator for new businesses including semiconductors. The reorganization is meant to give investors direct exposure to a business of their choice and improve the value of the group’s component parts. Read More