Transfer aimed toward unlocking worth of the Anil Agarwal-led mining conglomerate
Vedanta Sources’ Indian subsidiary Vedanta Ltd on Friday (29) introduced plans to demerge 5 of its key companies, together with aluminium, oil and gasoline, and metal, into separate listed entities.
The transfer is aimed toward unlocking worth of the mining conglomerate, led by Anil Agarwal.
“The de-merger is deliberate to be a easy vertical cut up, for each 1 share of Vedanta Restricted, the shareholders will moreover obtain 1 share of every of the 5 newly listed firms,” the agency stated in a inventory alternate submitting.
The board of Vendata Ltd accepted “a pure-play, asset-owner enterprise mannequin” that may end in aluminium, oil and gasoline, energy, metal and ferrous supplies, and base metals being demerged and listed individually.
Vedanta Ltd will proceed to carry 65 per cent of Hindustan Zinc Ltd in addition to the brand new companies of chrome steel and semiconductor/show.
Your entire train is proposed to be accomplished in 12-15 months.
(With inputs from PTI)