Vedanta demerger details to become clear by March-end, says Agarwal
The Hindu
‘Market is good, production is going well; having separate firms will create value’
Metals and mining group Vedanta Limited will announce the contours of a proposal to spin off key businesses into separate listed companies by March-end, chairman Anil Agarwal said.
While the zinc business is already housed in a listed subsidiary, the plan is to demerge the aluminum, iron and steel, and oil and gas businesses into standalone, listed entities.
This will ‘unlock value for all stakeholders’ as well as create businesses that are positioned better to capitalise on their distinct market positions and deliver long-term growth and enable strategic partnerships, he told PTI in an interview. It will also help tailor the capital structure and capital allocation policies based on business-specific dynamics, as also create distinct investment profiles to attract deeper and broader investor bases.
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