
In a historic market debut, four companies that spun off from Anil Agarwal-led Vedanta's mega demerger will list on the leading stock exchanges - BSE and NSE on Monday, June 15 at 10 AM. According to separate exchange filings from Vedanta Ltd, the companies include Vedanta Oil & Gas, Vedanta Power, Vedanta Aluminium Metal and Vedanta Iron & Steel. Initially, they will be placed in the Trade-to-Trade (T2T) segment, where every transaction results in compulsory delivery. This comes on the heels of the conglomerate's announcement in April, which stipulated that eligible shareholders would get one share in each of the four newly formed entities for every share they own in Vedanta. As per CNBC TV18, the listings will enable market-driven price discovery, help unlock shareholder value and allow each standalone company to pursue sector-specific growth opportunities independently. The demerger has received 83% creditor approval, surpassing the required 75% threshold, with the formal approval from NCLT completed. With these listings, a total of five Vedanta Group entities will be traded on stock exchanges starting Monday. As part of the restructuring, Talwandi Sabo Power has been renamed Vedanta Power, while Malco Energy has been renamed Vedanta Oil & Gas. The listings have unlocked market value worth a little over ₹50,000 crore.
Vedanta Chairman Anil Agarwal outlined ambitious growth plans for the group's newly listed businesses, saying each of the five Vedanta entities could eventually be worth $100 billion. Speaking to CNBC-TV18 on the day of the listings, Agarwal said the restructuring would allow investors to better appreciate the value of each business independently. "Every demerged business will be worth $100 billion," Agarwal said, highlighting that demand-supply dynamics across metals and natural resources remain favourable. He added that creating new capacity in these sectors requires significant capital and long gestation periods. The comments come as Vedanta's four demerged businesses began trading as independent listed companies, with Vedanta Aluminium Metal Ltd debuting at ₹527 per share before hitting a high of ₹538 on BSE. Agarwal also revealed that the group's current revenue stands at $23-24 billion and aims to take it to $50 billion.
Vedanta Chairman Anil Agarwal was particularly bullish on the aluminium business, which has emerged as the most valuable of the group's newly listed entities. He said Vedanta Aluminium's production capacity would double from around 3 million tonnes currently to 6 million tonnes over the next three to three-and-a-half years. "We are the lowest-cost producer in the world and fully integrated," Agarwal said, adding that the company ultimately aims to expand aluminium capacity to 10 million tonnes within five years. The investment case rests on three pillars: dominant domestic market share, a first-quartile global cost position, and a fully integrated value chain that is still being expanded. Vedanta is the third-largest aluminium producer globally outside China, behind only Rusal and Rio Tinto, and within India, it is the largest aluminium producer and operates nearly twice the capacity of Hindalco, its closest listed peer. Agarwal highlighted that per capita consumption is only 3 kilos in India, whereas the worldwide is 30 to 40 kilos, describing aluminium as "the most critical metal for our development".
Agarwal outlined ambitious expansion plans for the group's oil and gas business, saying the company has mapped reserves capable of materially lifting production. "We have 5,00,000 barrels in three years' time. We have seen, we have mapped out our resources. We have resources which can produce 5,000 barrels or more," Agarwal said. In the steel sector, the company is targeting 15 million tonnes of steel production, supported by captive iron ore and coking coal resources. "Steel, we are looking to produce 15 million tonnes. We are very comfortable making 15 million tonnes. We have all the infrastructure," Agarwal said. He also outlined a long-term nuclear power strategy, saying 20-25% of the company's future power generation capacity could eventually come from atomic energy. The company's steel expansion is supported by its integrated operations, including access to iron ore, coking coal linkages and gas availability, as key competitive advantages.
Despite the ambitious targets, the newly listed stocks showed mixed trading performance on Monday, with shares declining below their opening prices amid selling pressure. By late morning, Vedanta Oil and Gas Ltd was locked in its 5 percent lower circuit at ₹36.1, while Vedanta Aluminium Metal Ltd was also at its 5 percent lower circuit limit. However, Vedanta Power was listed at ₹41.30 and climbed to ₹43.35, while Vedanta Iron and Steel shares listed at ₹22.25. According to The Hindu BusinessLine, the parent holding company Vedanta dipped 2% to ₹303, while Vedanta Aluminium Metal, Vedanta Oil and Gas and Vedanta Iron and Steel plunged 5% each to ₹501, ₹37 and ₹21, respectively. According to Moneycontrol, Vedanta shares gained 3% in early trade on June 15, opening higher at ₹313.15 against the previous close of ₹309.65 on BSE, with the stock extending gains to hit a high of ₹318.45 on NSE. Vedanta Aluminium & Metal Ltd debuted with a market capitalisation of ₹1.95 lakh crore, hitting the 5 percent lower circuit and trading at ₹500.65. Vedanta Oil & Gas Ltd was listed with a market capitalisation of ₹14,487.99 crore, also hitting its 5 percent lower circuit at ₹37.05. Vedanta Power emerged as the relatively stronger performer among the newly listed entities, trading 0.6 percent higher at ₹41.55. Vedanta Iron & Steel Ltd was listed with a market capitalisation of ₹8,231.37 crore, slipping over 5 percent to hit its lower circuit and trading around ₹21. Despite the mixed trading performance, the combined market value of Vedanta Ltd and the four demerged companies remained well above the group's pre-demerger valuation, suggesting investors continue to see merit in the restructuring and the prospect of long-term value creation across the standalone businesses.
Vedanta Chairman Anil Agarwal hinted at a possible overseas relisting of parent company Vedanta Resources, though he said such a move is unlikely before the next three years. Speaking to PTI, Agarwal said the relisting of Vedanta Resources, which was delisted from the London Stock Exchange (LSE) in October 2018 after founder Anil Agarwal acquired the remaining shares, is not an immediate plan but may be completed in three years' time. "I'm very pleased, we have delisted our company in London, which was an FTSE 100 company. It's (listing) not on the card, but there is a potential that we can list, relist that company, maybe in America, maybe somewhere else, can create a phenomenal value," Agarwal said. Following the five-way restructuring, the residual Vedanta Limited continues to function as the parent company, primarily housing the group's zinc and copper businesses, with key holdings including a controlling stake in Hindustan Zinc Limited.