Anil Agarwal's Vedanta sole bidder for Videocon's 25% in Ravva oil block

Anil Agarwal-led Vedanta is the sole bidder for Videocon’s 25 per cent stake in the Ravva oil and gas field located in the shallow offshore area of the Krishna-Godavari basin on the eastern coast of India.  Videocon is undergoing insolvency proceedings at the NCLT with a separate bidding process being undertaken for the Ravva block. Vedanta, through its Cairn Oil & Gas vertical, holds 22.5 per cent in the field. The other partners are ONGC with 40 per cent stake and Ravva Oil with 12.5 per cent stake.  Videocon Industries, which is among the RBI’s list of 40 l.....

Key stories on are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel