Vedanta demerger unlocks 20% value; Aluminium arm becomes most valuable

Vedanta's demerger into four listed entities unlocked approximately 20% value, with the combined market cap of the four new entities plus residual Vedanta reaching around ₹902 crore against the pre-demerger value of ₹773.25. On listing day, shares of the four new entities — Vedanta Aluminium Metal, Vedanta Oil & Gas, Vedanta Power, and Vedanta Iron & Steel — ended 1-5% lower. Vedanta Aluminium Metal emerged as the most valuable entity in the group, while the power and iron & steel businesses listed above expectations; oil & gas listed at the lower end of estimates.