Vedanta lists 4 spun off firms on BSE and NSE
Vedanta Group just spun off and listed four new companies (Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Iron & Steel, and Vedanta Power) on the BSE and NSE.
This big move is all about making each business more focused and unlocking extra value for investors.
Now, these fresh companies are trading separately from Vedanta Limited.
Vedanta Aluminium debuts at ₹522
Vedanta Aluminium made the strongest debut at ₹522 per share, while Oil and Gas, Power, and Iron and Steel opened at ₹38, ₹41.8, and ₹20.
The main company Vedanta Limited saw a small bump to ₹311.2.
Chairman Anil Agarwal said, "Today is a historic day for Vedanta, and a deeply emotional one for me." saying it will help boost India's resources sector and support self-reliance.
Over the last five years, Vedanta has delivered over 300% returns to shareholders with hefty dividends too.