Vedanta's much-awaited demerger officially goes ex-date today (April 29, 2026), with April 30 being the actual record date for the historic corporate restructuring. As per ETMarkets.com, this timing is crucial as April 30 falls on a market holiday due to Maharashtra Day, making April 29 the last practical trading day for investors to purchase Vedanta shares and become eligible for the four new companies. The T+1 settlement rule means shares must be credited by the end of trading on April 29 to be eligible for the demerger benefits. This represents one of India's biggest corporate restructurings in the metals and mining space, allowing shareholders to hold direct stakes in distinct sector-specific firms rather than the diversified conglomerate structure.
In its exchange filing released on April 20, 2026, Vedanta announced that each eligible shareholder will receive one share of Vedanta Aluminium Metal (VAML), one share of Talwandi Sabo Power (TSPL), one share of Malco Energy and one share of Vedanta Iron and Steel for every share held in Vedanta. As per ETMarkets.com, this marks a significant shift from the original 2023 proposal that included six separate entities, with the current structure creating four independent listed companies. The restructured Vedanta will continue to house the zinc and silver businesses through Hindustan Zinc and is envisaged as an incubator for future ventures. A privately held parent company controlled by Anil Agarwal will retain roughly half the shareholding in each of the demerged entities.
According to Nuvama Institutional Equities, post-demerger, Vedanta is expected to have a market capitalisation of nearly ₹1.14 lakh crore, significantly lower than its current market capitalisation of more than ₹2.9 lakh crore. The brokerage expects Vedanta and Vedanta Aluminium to be classified as large caps, while Vedanta Power, Vedanta Oil & Gas, and Vedanta Steel & Iron Ore fall under small cap. Vedanta currently remains part of the Nifty Next 50 index and is part of the MSCI Emerging Markets Index as well as FTSE indices. The company's stock has shown strong performance, gaining over 14% in one month and 23% in 2026 so far, with longer-term gains of 166% in three years and 204% in five years.
Raj Gaikar, Research Analyst at SAMCO Securities, described Vedanta's demerger as a well-structured move that should unlock shareholder value over time, noting that when businesses like aluminium, zinc and oil & gas trade independently, markets tend to value them more fairly than when bundled together. However, he cautioned that investors considering buying ahead of the demerger should be careful, as the stock has already rallied more than 25% in just the past month, meaning some excitement is already reflected in the price. For long-term investors with 12 to 18-month horizon and comfort with commodity price swings, the restructuring makes sense, but chasing it purely for quick pre-demerger gains carries meaningful short-term risk. The demerger received approval from the National Company Law Tribunal (NCLT) in December 2025 after facing significant delays due to government objections.
