Please refer the enclosed clarification letter.
Awaiting price reaction for this filing.
Vedanta Limited has clarified to stock exchanges that a recent Economic Times article about a Rs 50,000 crore investment in Assam is premature. The company stated it currently holds exploration blocks in Assam awarded under the OALP (Open Acreage Licensing Policy) bid rounds, which were previously disclosed in 2018 and 2019. These blocks are in the early exploration stage to assess hydrocarbon potential, and no development or investment plan has been finalized yet. Vedanta noted that any future investment in monetization would only be triggered after successful exploration and appraisal, and would be disclosed post Board approval. The company confirmed there is no material undisclosed information that could impact the stock price.
This is a routine clarification confirming the news was based on preliminary discussions with no firm investment commitment yet. No material impact on the stock is expected, as the Rs 50,000 crore figure represents a future, conditional possibility rather than an immediate capex plan.