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Vedanta’s Chairman Anil Agarwal has announced that they are going ahead with the proposed demerger of its businesses to unlock significant value. This will ultimately see it form five independent verticals in addition to Vedanta Ltd namely, Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals. Shareholders owning every one share of Vedanta Ltd, will additionally receive one share of each of the five new companies that will separately be listed. He noted that the demerged entities will plan their own course forward, but follow Vedanta’s core values and global leadership. He further added that Vedanta has invested over $35bn in India and remains committed to growth.
Vedanta’s dollar bonds traded steady with its 9.25% 2026s at 93.1, yielding 13.7%.
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