Vedanta share price traded flat on Friday after the company posted an update on the stock exchanges about its demerger plan. Vedanta shares gained over 1% to an intraday high of ₹458.20 apiece on the BSE.
The natural resources major, Vedanta, announced that the meeting of its equity shareholders, secured creditors and unsecured creditors, is scheduled to be held on February 18, 2025, for the demerger process to proceed.
The meeting of the Vedanta shareholders and creditors will be held either through video conferencing and other audio-visual means.
“...in the matter of Scheme of Arrangement between Vedanta and Vedanta Aluminium Metal and Talwandi Sabo Power and Malco Energy and Vedanta Base Metals and Vedanta Iron and Steel and their respective shareholders and creditors, the meetings of the Equity Shareholders, Secured Creditors and Unsecured Creditors of the Company are scheduled to be held on Tuesday, February 18, 2025,” Vedanta said in a regulatory filing on January 17.
In September 2023, Vedanta had announced the demerger plan, splitting into six entities - Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals and Vedanta Ltd.
However, last year the company decided to retain base metals within Vedanta.
As per the demerger plan, Vedanta shareholders will receive one share of every demerged company for every one share held by them in the listed entity as on the record date.
As per the latest shareholding pattern for the quarter ended December 2024, public shareholders held 170.11 crore equity shares, or 43.50% stake, in Vedanta.
Vedanta share price has fallen over 10% in one month, but the stock is down just 1% in six months. Vedanta stock price has delivered 70% returns in one year.
At 11:30 AM, Vedanta shares were trading 0.31% higher at ₹451.25 apiece on the BSE.
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