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Vedanta Resources will launch a L418m IPO on the London Stock Exchange on November 20 with JP Morgan as sponsor and financial adviser. HSBC and JP Morgan will be joint global coordinators.

The company has been set up in the UK as a holding company for Sterlite Industries, which is listed in India. Vedanta owns 60.8% of Sterlite, which has copper, aluminium and zinc assets in India, and some assets in Australia.

Vedanta has an option to increase its stake to 70.8% in April...