Mumbai-listed Vedanta, which produces copper, aluminium, iron ore and crude oil, and is a subsidiary of the London-based Vedanta Resources (VRL), said the exercise was aimed at building a simplified corporate structure that would appeal to focused investors.
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Vedanta, an Indian metals-to-oils conglomerate, has announced plans to demerge its business units into independent companies in order to unlock value and attract investments. The proposed entities include Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Metals, Vedanta Base Metals, and Vedanta Limited. The announcement has resulted in a 6.8% increase in Vedanta s shares.
'By demerging our business units, we believe that will unlock value and potential for faster growth in each vertical,' says Anil Agarwal, Chairman of Vedanta