Vedanta Limited — JV/Acquisition, 20-12-2024: Demerger

Vedanta Limited has approved a Scheme of Arrangement that will not implement the demerger of its Base Metals undertaking. Instead, the Base Metals business will remain part of residual Vedanta, allowing shareholders to continue unlocking value from it while also receiving shares in new resulting companies. The Board believes this approach, supported by lender feedback, balances debt allocation optimally and does not hinder overall value creation. The Scheme includes demergers of its Aluminium, Merchant Power, Oil and Gas, and Iron Ore divisions, with share entitlement ratios unchanged. The updated draft will be circulated for stakeholder approval.