Vedanta listing: How billionaire Anil Agarwal's 'Fantastic 5' unlocked Rs 63,500 crore value with mega demerger

Vedanta's five-way demerger has unlocked approximately Rs 63,500 crore in value, with the combined market capitalization of the five listed entities rising to Rs 3,65,830 crore from Rs 3,02,371 crore pre-demerger, translating to a ~22.5% return for shareholders. Vedanta Aluminium Metal emerged as the largest entity at Rs 2,06,000 crore, while residual Vedanta Ltd was valued at Rs 1,21,000 crore. Analysts including Khandwala Securities and ICICI Securities see the restructuring as a re-rating catalyst, citing elimination of the 20-40% conglomerate discount, a projected 23% EBITDA CAGR through FY26-28E, and sub-1x net debt/EBITDA leverage.