Vedanta’s four new demerged entities will be listed on the Indian stock exchanges next week and begin trading as independent companies, as the conglomerate’s demerger process reaches its final phase.
Vedanta Aluminium Metal Ltd. (VAML), Vedanta Oil & Gas (VOGL), Vedanta Power and Vedanta Iron & Steel (VISL) will be listed on both the stock exchanges, BSE and National Stock Exchange (NSE), on June 15, Monday, according to notices issued on bourses on Thursday.
The shares of these Vedanta demerged entities will participate in a special pre-open session meant for newly listed companies before regular trading commences. These shares will be in Trade-for-Trade segment for 10 trading days.
Vedanta 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.
During an investors call after the Q4 results, Vedanta Resources CEO Deshnee Naidoo had said Vedanta entities will trade by mid-June post-demerger.
