Vedanta chairman Anil Agarwal has recalled how former Prime Minister Atal Bihari Vajpayee's support helped the company secure approval for its landmark listing on the London Stock Exchange (LSE), a move that eventually led to Vedanta becoming the first Indian company to enter the FTSE 100 index.
In a post on X, Agarwal looked back at December 10, 2003, saying he believed Indian businesses were not receiving the valuation and growth opportunities they deserved. Determined to change that, he decided to list Vedanta on the London Stock Exchange.
However, Agarwal said the plan faced a major hurdle. At the time, India's foreign exchange and cross-border listing regulations were highly restrictive, and the LSE required a No Objection Certificate (NOC) from the Government of India before the listing could proceed.
Recalling the events, Agarwal said he travelled to Delhi and met several government officials before finally getting an opportunity to present his case to then Prime Minister Atal Bihari Vajpayee.
