Vedanta Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ( SEBI Listing Regulations )'.
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The NCLAT has granted an interim stay on the NCLT Mumbai's March 4, 2025 order that had rejected Vedanta's Scheme of Arrangement to demerge four businesses into separate subsidiaries (VAML, TSPL, MEL, and VISL). The rejection was specifically related to the demerger of Vedanta's power business into Talwandi Sabo Power Ltd (TSPL), triggered by an objection from SEPCO Electric, a Chinese contractor claiming dues of around Rs. 1,245 crores. As a condition for the stay, Vedanta must furnish a bank guarantee of Rs. 1,245 crores within two weeks to protect SEPCO's interest. The matter is listed for detailed hearing on August 4, 2025. Vedanta stated it remains committed to its strategic reorganization plan aimed at unlocking long-term value.
This is a positive development for Vedanta shareholders as the stay revives the proposed demerger and planned listing of four subsidiaries, which the company sees as a value-unlocking exercise. However, the outcome remains uncertain pending the August 4 hearing, and the Rs. 1,245 crore bank guarantee adds a contingent liability in the interim.