JPMorgan Chase & Co. and Vedanta Group are collaborating to provide advice on business overhaul of the Indian conglomerate that was revealed in September, according to people familiar with the matter, who requested anonymity discussing private matters.

This indicates that billionaire Anil Agarwal's energy-to-metals company is making headway towards streamlining the intricate financial system. The organisation is also looking for money to pay back approximately $3 billion in dollar bonds that are due in the next two years. Vedanta declared that the board had given its approval for a change to a pure-play, asset-owner business model, which would ultimately result in the formation of six distinct listed companies. This restructuring is expected to be finished in a matter of months.

Vedanta is in advanced talks to raise a $1.25 billion private loan to help satisfy its refinancing needs. A Vedanta representative states, "a demerger of this size and scale needs to go through multiple processes, including stock exchange notifications." "After receiving preliminary regulatory approvals, we are in the process of appointing advisors; this will be finalised in due course".