India’s Vedanta Ltd. has announced plans to invest approximately $500 million in AvanStrate Inc., its display glass subsidiary, news agency PTI reported on Monday, November 11.

According to the news agency report, the metals and mining giant is also exploring the possibility of establishing a display semiconductor manufacturing facility in India.

“Vedanta Limited is planning to invest close to USD 500 million (about ₹4,300 crore) in its group company, AvanStrate Inc. (ASI), a leading global display glass manufacturer that is now fully managed by Vedanta Limited,” the company said in a statement.

Vedanta shares were trading 0.70 per cent lower on the last leg of Monday’s trading session at ₹454.60, compared to ₹457.80 at the previous market close.

The company plans to make this a strategic investment to drive innovation and expansion within ASI. According to the statement cited in the PTI report, the company aims to improve its focus on research and development, manufacturing capabilities, and product offerings to cater to the growing global demand for advanced display glass solutions.

“This strategic investment from Vedanta Group is reflective of our clear and definitive shift in focus toward significant growth-oriented projects. We are confident that ASI’s cutting-edge R&D capabilities and a world-class team of engineers are well placed to deliver a stream of future-ready solutions to our customers and partners, propelling the company onto a path of positive industry disruption,” Akarsh Hebbar, the global managing director of AvanStrate told PTI.

Author: Srishti Pandey