MUMBAI: Four businesses of the Vedanta group, demerged from its flagship Vedanta Ltd—aluminium, oil & gas, iron & steel, and power—were listed on the bourses on Monday, unlocking market value worth a little over Rs 50,000 crore.
Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Iron & Steel, and Vedanta Power, all part of Vedanta Ltd until April 29 this year, were demerged earlier this year, the company said.
This is the first instance of a corporate demerger in India where one single company was divided into five separate listed entities. The listing creates a portfolio of focused, world-class businesses spanning strategic metals, critical minerals, aluminium, oil & gas, power, and iron & steel sectors, the company said in a release.
At the close of Monday’s session on BSE, Vedanta had a market capitalisation of Rs 1.2 lakh crore.
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