Sterlite Industries India Limited has clarified that the news article in media regarding increase in its stake in associate company, Vedanta Aluminum Limited.

The company said that the article has misleading statements and it does not expect any change in its shareholding in Vedanta Aluminum Limited which currently stands at 29.5%. The company also clarified it is untrue that the company is planning to convert all its loans to Vedanta Aluminum into equity.

The company's investment in Vedanta Aluminum Limited is primarily in the form of debt and quasi equity with a small amount of equity. The company has stated in the past on several occasions that as and when the capital structure of Vedanta Aluminum Limited is finalized, part of the loans quasi equity from Sterlite would get converted to equity of Vedanta Aluminum Limited to achieve the target debt equity ratio.

(Sourced from Equity Bulls)