The natural resources major had a gross debt of INR 75,227 crore — or more than USD 9 billion — as of December-end. Net det was INR 62,493 crore — just shy of USD 8 billion. Last year, Vedanta had also announced it is looking to sell its steel business. Goel said that the process for the asset sale is underway, and that Vedanta will have a “firm proposal” by the end of the current quarter, and the deal is likely to be finalised by April-May. The company acquired Electrosteel Steel through the insolvency process in 2018.