London: Sterlite Industries founder Anil Agarwal is set to become one of the wealthiest businessmen in UK when he lists his newly floated mining company "Vedanta" in the London Stock Exchange.

The float of Vedanta will be the biggest listing in the city this year and will be the first primary listing of an Indian firm in the London market.

It will emerge this week that Agarwal will have a paper fortune of at least 800 million Pounds when he floats the company, 'The Sunday Times' reported.

Vedanta, the newly-formed holding company for the Mumbai-based Sterlite Industries, will publish its pathfinder prospectus on Thursday (Nov 20).

The company, which is 100 per cent owned by the Agarwal family, is estimated to be worth between $ 1.3 billion (770 million Pounds) and $ 1.4 billion. This is before a proposed $ 700 million fundraising, which will dilute his stake to about 60 per cent.

Agarwal, who has bought a 20 million Pound home in London's Mayfair, is applying to become a British resident. If his other assets are included, he should appear in the billionaire league and be one of the Britain's 20 richest individuals.

PTI

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