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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Vedanta extends demerger deadline till September 30, cites pending govt, NCLT approvals
Vedanta has extended the deadline of the demerger of its businesses from March 31, 2025 to September 30, 2025 citing pending approvals from government authorities and National Company Law Tribunal (NCLT).
The company announced about the development late on Friday. Shares of Vedanta had ended at Rs 462.90 on the NSE, down by Rs 9.45 or 2%.
The mining conglomerate is looking to demerge its businesses — aluminium, oil & gas, power and steel- as separate entities. At present, these businesses are subsumed within Vedanta Ltd, which is an Indian arm of UK-based Vedanta Resources.
Post the demerger, every Vedanta shareholder — both retail and institutional — will receive one new share in each of the newly demerged companies.
There will be no change in the overall shareholding structure, the letter said.
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Chairman Anil Agarwal in his recently written letter to the shareholders, said that investments in the company at the start of the past 5-year period would have yielded returns of 4.7 times. The returns are a combination of capital appreciation and cash dividends, he added, claiming that metals & mining company has delivered a dividend yield of 81% during this period which is highest amongst all its peers.
«Anyone who had invested in Vedanta at the start of the past five-year period would have seen their investments multiplying over 4.7 times to date, both through capital appreciation and cash dividends returned,» the letter read.
«Vedanta's unique and irreplaceable assets, sector-leading position,
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21.05 / 09:47
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