Sterlite listing to fund acquisitions

Anil Agarwal, the Indian entrepreneur who controls Sterlite Industries, the country’s largest metals and mining company, plans to acquire mines in Latin America and Africa to feed his copper smelting operation in India.

This comes as Vedanta Resources, Mr Agarwal’s London-listed holding company, and Sterlite, which last week raised $1.75bn in the largest new listing in the US by an Indian company, roll out an ambitious $8bn investment plan.