Anil Agarwal’s Vedanta to split biz into 6 companies to unlock value
Anil Agarwal-promoted Vedanta Ltd on Friday announced its board had approved a pure-play, asset-owner business model that would ultimately result in six separate listed firms. The restructuring is expected to be completed in 12-15 months, company executives said.
The proposed plan entails five new listed firms — Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, and Vedanta Base Metals — in addition to Vedanta Ltd. “We believe (the demerger) will unlock value and potential for faster growth in each vertical,” said Agarwal, chairman of Vedanta Ltd.
Vedanta Ltd is expected to act as an incubator and house the shareholding in Hindustan Zinc and some of the company’s new businesses, including nickel, facor and the display ...