The name of Sesa Goa Ltd has been changed to Sesa Sterlite Ltd from September 18, the Goa-based iron ore miner said in a notification to the stock exchanges today.
The change of name to Sesa Sterlite is consequent to the approval of the scheme of merger and restructuring of Sterlite Industries (India) Ltd, Madras Aluminium Company Ltd, Sterlite Energy Ltd, Vedanta Aluminium Ltd and Sesa Goa Ltd, said the notification.
Sesa Sterlite will reduce volatility of earnings while giving Sesa Goa exposure to world class assets and growth across different commodities, Vedanta Resources had said in its release earlier.
The new entity is expected to create a strong balance sheet and lower cost of capital to deliver superior growth and returns.
Sesa Sterlite is expected to be the 7th largest global diversified natural resources major, the London-based Vedanta Resources had said.