Anil Agarwal’s steel problem

Five years after buying ESL Steel for what seemed like a bargain, the Vedanta founder is in a hurry to sell the company. Except, he hasn’t had much luck with finding a buyer.

When it comes to deal-making, Anil Agarwal has rarely put a foot wrong. Since 2001, when he turned heads with his acquisition of government-owned BALCO, the entrepreneur has built his Vedanta Ltd into a mining and metals conglomerate—one deal at a time. These include the acquisitions of Hindustan Zinc, Sesa Goa and Cairn India, as well as a host of mining assets in Africa. 

Among the last of his big deals was the Electrosteel Steels Ltd buyout in June 2018, which propelled Vedanta into the steel industry. The commodity trader-turned-mining mogul paid Rs 5,320 crore for the acquisition, seeing off …


Prince M. Thomas

Prince leads the newsroom at The Morning Context as managing editor. A fascination with the written word has taken Prince to some of the leading newsrooms across the country, including The Economic Times, Dow Jones Newswires, Forbes India and Moneycontrol. In a career spanning 20 years, Prince has led teams, managed pages, projects and special editions, and has authored The Consolidators, published by Penguin Random House in 2017.

Managing Editor