Vedanta splits into 4 companies ahead of June 15 listings
Big news for Vedanta fans: the company is splitting up and launching four fresh businesses: Vedanta Aluminium Metal, Vedanta Power, Vedanta Iron and Steel, and Vedanta Oil and Gas.
All four will start trading on the NSE and BSE from June 15, with a special pre-open session before regular trading kicks off.
Vedanta shareholders get 1 share each
If you owned Vedanta shares as of May 1, you now get one share in each new company for every share you held.
The stocks will begin under the 'BE' series before moving to 'EQ' as per SEBI rules.
Chairman Anil Agarwal says this move is all about unlocking growth for each business.
With a $20 billion investment planned, the group aims to boost production by nearly two-and-a-half times and expects $10 billion in EBITDA, thanks to focused teams running each company in its own way.