Vedanta Demerger Highlights: 4 new entities get listed; Vedanta Aluminium, Oil & Gas, Iron & Steel shares slip 5% each

Demerged Vedanta stocks ended mixed on the listing day. Vedanta Aluminium closed the day at ₹495.90 as against its listing price of ₹522. Vedanta Power ended at ₹41.90 compared with its opening price of ₹41.80. Vedanta Iron and Steel ended the session at ₹21.06, tad higher than ₹20, its listing price. Vedanta Oil & Gas closed at ₹36.10 versus listing price of ₹38.

Vedanta Chairman Anil Agarwal on Monday hinted at a possible overseas relisting of parent Vedanta Resources and laid out an ambitious expansion roadmap across businesses, saying each vertical has the potential to become a USD 100 billion opportunity over time as the group scales up operations in metals, mining, oil and gas, power and critical minerals.

Agarwal said relisting of Vedanta Resources, which was delisted from the London Stock Exchange, is not an immediate plan but may complete in three years time. (Source: PTI)

Vedanta Iron & Steel currently produces around 4 million tonnes of steel annually, and the company has a clear roadmap to scale capacity to 15 million tonnes per annum. It enjoys a unique competitive advantage through security of three critical inputs: nearly 4 billion tonnes of iron ore resources in Goa, Odisha and Karnataka and approximately 800 kilo tonne per annum (KTPA) of metallurgical coke, and access to gas pipeline infrastructure available at its doorstep. The company will focus on high - value segments including green steel, electrical steel and specialty steel, supporting both industrial growth and the country’s ambitious infrastructure objectives.

Vedanta Oil & Gas’ growth portfolio spans tight oil, shale gas, shallow-water and deep-water assets, satellite fields as well as significant acreage in Assam and the North-East - the region where Asia’s first oil well was drilled. Vedanta plans to invest approximately $5 billion over the next three to five years to scale production to 500,000 barrels per day at globally competitive costs.

Vedanta Aluminium Metal is India’s largest aluminium producer and the third-largest globally outside China. It is anchored by the world’s largest aluminium smelter at Jharsuguda, Odisha. The company plans to double capacity to 60 lakh tonnes per annum over the next three years, with a clear ambition to become the world’s largest and lowest-cost, fully integrated aluminium producer.

The listing of shares of Vedanta’s demerged entities has unlocked over ₹60,000 crore in shareholder value, with the combined market capitalisation of all five listed Vedanta group companies significantly surpassing the conglomerate’s pre-demerger valuation.

Based on the listing prices of the newly demerged entities on Monday, the combined market capitalisation of Vedanta Ltd and its four newly listed businesses stood at approximately ₹3.65 lakh crore. In comparison, Vedanta Ltd’s market capitalisation prior to the demerger ex-date of April 29 was over ₹3.02 lakh crore.

The nearly ₹63,000 crore increase in valuation highlights the market’s positive reassessment of the group’s standalone businesses following the demerger.

Brokerages expect Vedanta Power’s revenue could rise from around ₹6,022 crore in FY25 to more than ₹14,100 crore by FY29, while EBITDA could increase from about ₹650 crore to over ₹3,260 crore during the same period. These projections are subject to factors such as project execution, power demand, fuel costs and regulatory developments.

The power business reported EBITDA of approximately ₹1,600 crore in FY26, according to company disclosures.

Brokerage estimates suggest Vedanta Power could deliver one of the strongest earnings growth trajectories among the demerged entities, supported by capacity additions, improving operating leverage and a focused business structure following the separation.

Vedanta Oil and Gas share price hit 5% lower circuit after opening at ₹39 apiece on the BSE. The stock slipped 5% to ₹37.05 apiece on the BSE.

Vedanta Power operates a thermal power generation portfolio of around 4.2 GW and is among India’s larger private-sector thermal power producers. Following the demerger, it will function as a standalone listed company with its own management and financial reporting structure.

The company has outlined plans to expand generation capacity through brownfield projects, including at its Sakti Thermal Plant facility in Chhattisgarh. According to management projections cited by brokerage reports, capacity could increase to nearly 12 GW by FY33.

Vedanta Aluminium Metal’s market valuation stood at ₹1,95,773.58 crore, while Vedanta Power’s market capitalisation was ₹16,736.46 crore on the BSE. Vedanta Oil and Gas commanded a market cap of ₹14,487.99 crore and Vedanta Iron And Steel’s market cap was ₹8,231.37 crore.

Vedanta demerger was approved by the National Company Law Tribunal in December last year. Under the 1:1 approved Vedanta demerger scheme, shareholders received one share of each demerged company for every one share held in Vedanta Ltd.

Vedanta demerger record date was May 1, 2026, for determining the shareholders eligible to receive shares in the newly carved-out businesses. However, since the market remained closed on account of Maharashtra Day, Vedanta shares adjusted to the demerger on April 30.

The listing date of these Vedanta demerged entities was fixed as June 15, Monday, and the shares have been listed on both the stock exchanges, BSE and NSE, after a special pre-open session.

Vedanta Power share price hit 5% upper circuit after listing on the stock exchanges. The stock opened at ₹41.30 apiece, and gained 5% to an intraday high of ₹43.35 apiece on the BSE.

Vedanta share price has been trading in a broad ₹340–294 range for the past four weeks, but the structure is gradually turning weak as repeated attempts to rebound are failing to gather momentum, noted Anshul Jain, Head of Research at Lakshmishree Investments.

“Vedanta stock price appears stretched on both weekly and monthly timeframes, increasing the probability of a deeper corrective phase. Price action suggests supply is beginning to dominate, while the inability to reclaim higher levels indicates fading bullish participation. The ₹294 zone has now emerged as a critical support and risk-management level. A decisive breakdown below this mark could trigger fresh long liquidation and accelerate selling pressure toward the ₹260 zone,” said Jain.

Unless Vedanta share price reclaims the upper end of the range, he believes the near-term bias remains bearish.

Vedanta Aluminium Metal share price hit 5% lower circuit after making its debut in the Indian stock market today. Vedanta Aluminium shares declined as much as 5% to ₹500.65 apiece on the BSE, after opening at ₹527.00 apiece.

Vedanta Aluminium, Vedanta Iron And Steel and Vedanta Oil & Gas shares price hit 5% lower circuit after listing. On the other hand, Vedanta Power shares touched 5% upper circuit.

The combined implied value of the five Vedanta entities stands at about ₹943.5 per original Vedanta share, based on the debut prices. This is around 18% higher than Vedanta’s pre-demerger closing price of ₹773.25 on April 29.

Vedanta Iron & Steel share price debuted at ₹22.25 apiece on the BSE.

Vedanta Oil & Gas share price got listed at ₹39 apiece on BSE.

Vedanta Power share price was listed at ₹41.30 apiece on the BSE.

Vedanta Aluminium Metal share price was listed at ₹527 per share on BSE.