Metals and mining group, Vedanta Ltd is planning to demerge its core business verticals into different listed companies. The outline of the demerger will be announced by the end of March.
Anil Agarwal, chairman of metal and mining group Vedanta Ltd has said that the company will announce its plans to split its key business verticals into separately listed companies by the end of March. He further added that the goal of doing this is to create value for the investors and make the company's business simple and easy.
Notably, the company's zinc business is already listed in the market as a subsidiary. Apart from this, the company now plans to merge aluminium, iron, and steel as well as oil and gas business as separately listed companies.
The demerger will result in the formation of three new listed entities with shareholding mirroring. London-based Vedanta Resources group will golf five listed entities, including Vedanta Limited, the three new listed firms with zinc subsidiary, and Hindustan Zinc.