Mumbai Mumbai: Mumbai-based Anil Aggarwal-led Vedanta Ltd has got the green signal from its shareholders and creditors for its proposed plan to split into five sector-specific units. According to an official announcement, the names of the five companies are Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Iron & Steel as well as Vedanta Ltd and Hindustan Zinc Ltd (HZL). Advertisement Four new companies will be formed in addition to the existing company. The four new companies to be separated from the existing company are Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Iron & Steel and Vedanta-Foxconn Semiconductor Unit. Advertisement The announcement said that after a crucial meeting with shareholders and creditors, the vote was taken to implement the split plan. Earlier, the company had proposed six separate entities. However, the plan was revised in early 2025.
The latest move is expected to streamline operations and help the company provide more focused and independent management to each entity. Meanwhile, the company has informed the Bombay Stock Exchange (BSE) that it has raised Rs 2,600 crore by issuing non-convertible debentures (NCDs). Vedanta said its committee of directors has approved the allotment of unsecured, redeemable, rated, listed, non-convertible debentures of denomination Rs 2,06,000 each having a face value of Rs 1 lakh each, aggregating to Rs 2,060 crore (Series 1 Debentures). Vedanta said the company has also allotted unsecured, redeemable, rated, listed, non-convertible debentures of denomination Rs 54,000 each having a face value of Rs 1 lakh each, aggregating to Rs 540 crore (Series 2 Debentures). On February 11, the company’s committee of directors had approved raising up to Rs 3,000 crore by issuing non-convertible debentures (NCDs).
