Anil Agarwal’s Vedanta to split biz into 6 companies to unlock value

Anil Agarwal-promoted Vedanta Ltd on Friday announced its board had approved a pure-play, asset-owner business model that would ultimately result in six separate listed firms. The restructuring is expected to be completed in 12-15 months, company executives said.

The proposed plan entails five new listed firms — Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, and Vedanta Base Metals — in addition to Vedanta Ltd. “We believe (the demerger) will unlock value and potential for faster growth in each vertical,” said Agarwal, chairman of Vedanta Ltd.