Vedanta Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Update in relation to Company Petition (C.P./CAA/MB/254/2025) in Company Scheme Application (C.A./CAA/MB/220/2024) for Scheme of Arrangement filed by Talwandi Sabo Power Limited ( TSPL ) with National Company Law Tribunal, Mumbai'.
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The National Company Law Tribunal (NCLT), Mumbai has, via its order dated January 9, 2026, approved the Scheme of Arrangement filed by Talwandi Sabo Power Limited (TSPL), Vedanta's wholly-owned subsidiary. The scheme involves the demerger of Vedanta's Merchant Power Undertaking, Aluminium Undertaking, Oil and Gas Undertaking, and Iron Ore Undertaking into separate wholly-owned subsidiaries. The share entitlement ratio is 1:1. Part V of the original scheme (Base Metals demerger into Vedanta Base Metals Limited) was excluded from implementation in December 2024. The scheme was approved by 100% of secured creditors and 99.99% of unsecured creditors of TSPL. A separate petition filed by Vedanta and the other resulting companies was already sanctioned by NCLT on December 16, 2025.
This is a major step in Vedanta's long-anticipated demerger plan to unlock value by creating four focused, independent listed entities. Shareholders of Vedanta will be replicated as shareholders in each resulting company at a 1:1 ratio, meaning they will own stakes in each demerged entity. The restructuring could enhance valuation through separate capital market access for each business, though it may take several more months for the scheme to become effective and shares to be listed.