The billionaire Anil Agarwal-led Vedanta Ltd shares were trading 3% above on 11 October after the company incorporated its base metals unit, Vedanta Base Metals Ltd, with an authorised share capital of Rs 1 lakh.

Vedanta Base Metals Ltd was established as a public company on 9 October 2023 under the terms of the Companies Act 2013. Its registered office is located in Mumbai, with an objective to carry out the Metal business.

Vedant Group has revealed its plans to overhaul its Indian metals, mining, and energy conglomerate, Vedanta Ltd, to maximise the value of its investors.

In an exchange filing on 29 September, Anil Agarwal, Chairman of Vedanta, said, “By demerging our business units, we believe that will unlock value and potential for faster growth in each vertical. While they all come under the larger umbrella of natural resources, each has its own market, demand and supply trends, and potential to deploy technology to raise productivity.”

The firm’s business will be divided into Vedanta Base Metals, Vedanta Aluminium, Vedanta Power, Vedanta Oil and Gas, Vedanta Steel and Ferrous Materials, and Vedanta Ltd, post-demerger.

The company’s shareholders will receive 1 share of each newly listed entity for 1 share held in Vedanta.

The demerger of its business and separate listing of all its business units is expected to take 12 – 15 months.

At 3:30 pm, the shares of Vedanta Ltd closed at Rs 227.20 or 2.27% above its previous close on NSE.