Overview
- Vedanta says the long-planned demerger will close in early April, with current shareholders getting stock in each new company while the promoter group keeps control.
- The five firms will be Vedanta for base metals, Vedanta Aluminium, Talwandi Sabo Power, Vedanta Steel and Iron, and Malco Energy.
- Management projects about $7 billion of debt across the new companies compared with roughly $11 billion at the group level before the split.
- The company expects the demerged units to start trading on Indian exchanges by mid-May, according to Chief Financial Officer Ajay Goel.
- Chairman Anil Agarwal says the combined market value of the five firms could top today’s roughly $27 billion for the group.