Addressing Vedanta’s exit from the steel sector, Agarwal pointed out that steel was never a core business for the company. Anil Agarwal stated that India’s aluminium industry is experiencing a surge in production, with Vedanta Aluminium at the forefront of expanding capacity while integrating renewable energy solutions.
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The company is scaling up operations to meet the growing demand across sectors such as transportation, infrastructure, and defence. As part of its strategy, Vedanta plans to enhance its aluminium production capabilities with a focus on sustainability by incorporating green energy into its processes.According to Vedanta’s demerger scheme, every Vedanta shareholder will receive one additional share in each of the four newly-demerged companies on completion of the demerger process.
The companies that will be created out of the demerger are Vedanta Aluminium, one of the world’s largest producers of aluminium; Vedanta Oil & Gas, India’s largest private sector crude oil producer; Vedanta Power, one of India’s largest generators of power; Vedanta Iron and Steel, a company with a highly-scalable ferrous portfolio; and Vedanta Ltd, which will include Hindustan Zinc, the world’s second-largest integrated zinc producer and third-largest silver producer.
Vedanta Ltd will also act as an incubator for new businesses, including Vedanta’s technology verticals.
Also Read: Anil Agarwal wants $1.2 billion for every million tonne of Vedanta’s steel capacity
As per Vedanta, the demerger will create five independent companies of a global scale focussed on the mining, production and/or supply of aluminium, iron ore, copper, oil & gas, and generation and distribution of power.
Shares of Vedanta Ltd ended at ₹460.20, down by ₹0.35, or 0.076%, on the BSE.
(Edited by : Shoma bhattacharjee)
