The Hindu : Sterlites' founder set to join U.K.'s wealthy elite

Online edition of India's National Newspaper
Monday, Nov 17, 2003

International

International

Sterlites' founder set to join U.K.'s wealthy elite

London Nov. 16. The founder of Sterlites Industries, Anil Agarwal, is set to become one of the wealthiest businessmen in the United Kingdom when he lists his newly-floated mining company, `Vedanta', in the London Stock Exchange.

It will be the biggest listing this year and the first primary one of an Indian firm in the London market. Mr. Agarwal will have a paper fortune of least £800 millions when he floats the company, The Sunday Times reported. `Vedanta' will publish its pathfinder prospectus on Thursday. The company, which is 100 per cent owned by the Agarwal family, is estimated to be worth between $1.3 billions and $1.4 billions. This is before a proposed $700 million fundraising, which will dilute his stake to about 60 per cent.

— PTI

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