Navedanta has bought Kalinga Lancers. In the information released on the exchange, Vedanta said that it has taken this step to promote the sport in Odisha and is committed to it in the future as well. Vedanta Limited has announced the acquisition of Kalinga Lancers, a leading hockey team based in Bhubaneswar, Odisha, in a franchise event organized ahead of the much-awaited return of Hockey India League (HIL). Apart from this, the company will decide on dividend on October 8. Its record date has been fixed as October 16, 2024.

This acquisition is Vedanta's long-term move to promote sports in Odisha. Former HIL champions Kalinga Lancers were previously co-owned by Odisha Industrial Infrastructure Development Corporation (IDCO) and Mahanadi Coalfields Limited (MCL).

Vedanta Aluminium is now assuming full ownership, with the aim to carry forward the team's legacy of excellence and elevate their position in future HIL seasons. Leveraging Odisha's world-class sports facilities and rich hockey culture, Vedanta sees this acquisition as a significant step in both regional and national development of the sport. Vedanta's presence in Odisha is significant, with the company operating India's largest aluminium plant (1.8 MTPA) in Jharsuguda and a state-of-the-art alumina refinery (3.5 MTPA) in Kalahandi. Vedanta Aluminium has created over 100,000 direct and indirect jobs in the state. Additionally, through investments in coal, bauxite, ferrochrome and iron ore, Vedanta plays a key role in advancing the “Make in India” initiative, contributing to nearly 50% of India's aluminium production and reducing the country's dependence on imports. This acquisition is another step in Vedanta's mission to combine business growth with impactful community development, as well as establish Odisha as a hub of sporting excellence in India.