Anil Agarwal recounts Vedanta’s listing on London Stock Exchange

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Vedanta Resources Ltd chairman Anil Agarwal has written a lengthy note on his journey to get his company listed on the London Stock Exchange (LSE). Sharing a post on LinkedIn, Agarwal wrote on Wednesday that in 2003, Vedanta became the first Indian company to be listed on the LSE.

However, it was not an easy feat. “To get my company listed on the London Stock Exchange, I would meet with several companies, lawyers, and bankers. I wanted them to see what my company had to offer, and more so, what my country had to offer to the world,” Agarwal wrote in the LinkedIn post.

He added that he was rejected 90 per cent of the time. “I was told that my vision is good, but it was a big risk for them as I was a first-timer. I knew that I had to work harder to gain their trust,” Agarwal said.

The Vedanta Resources chairman said that at a networking event, he met top investors from JP Morgan, BHP, and Linklaters who were going on a cycling trip.

“To challenge me, Ian Hannam invited me to cycle with them to Oxford which was almost 100 km away. I immediately said yes. I am not very sporty so after a few hours, I could barely continue. I don’t think I have ever felt that much pain, but the thought of not having my company listed here pained me more, so I pedalled even faster.”

Agarwal said that he managed to finish the cycle trip despite the injuries, and he made new bonds with some of the top leaders in the business.

“As more doors opened, I decided it was time to give people a taste of India. As they say, the window to a person’s heart is through food, and what better way to impress someone than with our Indian food. I, along with my wife, Kiran, would host big Indian lunches for people who were helping us with the listing,” Agarwal said.

“From feeding them Indian food to going on cycling trips, I did it all to make our investors see the potential of my company and my country. I would spend countless days and nights working on what most people would call a lost cause. Kiran would wait for me to come back home, and we would eat dinner together. Some nights we would laugh and talk about our days, but some nights I would be so tired that I would fall asleep at the dinner table,” he added.

Agarwal further said that all his efforts paid off when Vedanta Resources Ltd got listed on the London Stock Exchange.

Towards the end of his post, Agarwal shared a message, urging people to go beyond the four walls of their conference rooms to build meaningful business relationships. “Cycle even if you are not the sporty type, believe in your dreams even if people tell you otherwise, and truly enjoy the journey you are on…” he said.


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