- Vedanta aims to create six independent, listed companies, each focusing on a specific sector: Vedanta Aluminium, Vedanta Oil and Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals, and a residual Vedanta Limited.
- The demerger process has received approvals from a majority of creditors and is currently awaiting approval from the National Company Law Tribunal (NCLT).
- This move is expected to unlock value for shareholders by allowing each business unit to attract targeted investments and pursue its own growth strategy.
Anil Agarwal, Vedanta’s chairman, believes this demerger will create “six strong companies, each a Vedanta in its own right.”
HISTORY of Anil Agarwal :
Metals and mining magnate Anil Agarwal turned a tiny scrap metal business into London-headquartered Vedanta Resources.
In October 2018, Agarwal took Vedanta private after paying more than $1 billion for the one-third of the metals firm that he didn’t already own.
His listed Sterlite Technologies has hived off its power transmission business into a separate unit and listed an infrastructure investment trust.
Agarwal has a majority stake in India-listed Vedanta.
Vedanta has partnered with Taiwan’s Foxconn to jointly invest $20 billion to build semiconductor and display plants in Gujarat.
