Vedanta group's four demerged entities make debut on stock exchanges

Vedanta group's four demerged entities -- Vedanta Aluminium Metal, Vedanta Power, Vedanta Oil and Gas and Vedanta Iron And Steel -- made their stock market debut on Monday.

Shares of Vedanta Aluminium Metal began trading at ₹527 and further hit a high of ₹538 on the BSE.

Vedanta Power listed at ₹41.30 and further climbed to ₹43.35.

Shares of Vedanta Oil and Gas started trading at ₹39 and scaled to a high of ₹40.95.

Vedanta Iron And Steel shares listed at ₹22.25.

Later in the trade, shares of Vedanta Aluminium Metal were quoting lower from their opening price, Vedanta Oil and Gas and Vedanta Iron And Steel also traded lower. However, Vedanta Power was trading 3.63 per cent higher from the opening price.

 

Vedanta Aluminium Metal's market valuation stood at ₹1,95,773.58 crore, while Vedanta Power's mcap was ₹16,736.46 crore on the BSE.

Vedanta Oil and Gas commanded a market valuation of ₹14,487.99 crore and Vedanta Iron And Steel's mcap was ₹8,231.37 crore.

All these firms got listed on the NSE also.

Vedanta Aluminium Metal started trading at ₹522, Vedanta Power listed at ₹41.80, Vedanta Oil and Gas at ₹38 and Vedanta Iron and Steel at ₹20 on the NSE.

Vedanta's demerger was approved by the National Company Law Tribunal in December last year. Under the 1:1 approved demerger scheme, shareholders will receive one share of each demerged company for every one share held in the currently listed Vedanta Ltd.

Vedanta had earlier said that the demerger will help in simplifying Vedanta's corporate structure with sector-focussed independent businesses and provide opportunities to global investors, including sovereign wealth funds, retail investors and strategic investors, with direct investment opportunities in dedicated pure-play companies linked to India's remarkable growth story through Vedanta's world-class assets.

It will also provide a platform for individual units to pursue strategic agendas more freely and better align with customers, investment cycles and end markets, the firm had said.