September 29, 2023
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Vedanta announces demerger to split business into six listed entities
Billionaire Anil Agarwal-owned Vedanta Limited on September 29 announced creation of independent verticals through demerger of underlying companies, mainly its metals, power, aluminium, and oil and gas businesses to unlock potential value.
“We wish to inform you that the Board of Directors of the Company at their meeting held today, September 29, 2023, have granted their approval for demerger of diversified businesses unlocking significant value,” the company said in a regulatory filing.
As stated, the company plans six separate listed entities, namely:
• Vedanta Aluminium
• Vedanta Oil & Gas
• Vedanta Power
• Vedanta Steel and Ferrous Materials
• Vedanta Base Metals
• Vedanta Limited
Vedanta added that the de-merger is planned as a vertical split, for every 1 share of Vedanta Limited, the shareholders will additionally receive 1 share of each of the 5 newly listed companies.
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