Vedanta Group today completed its historic demerger with the listing of four new companies on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The creation of this portfolio of focused, world-class businesses spanning critical minerals, aluminium, oil and gas, power and iron and steel was marked by bell ringing ceremonies at both exchanges.
The listing of Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Iron & Steel and Vedanta Power was hailed as the culmination of a landmark strategic transformation. The group said it is designed to “unlock value, sharpen business focus and create sector leaders aligned with India’s emergence as a global economic and manufacturing powerhouse.”
Speaking at the listing ceremony, Anil Agarwal, Chairman, Vedanta Group, said: “Today is a historic moment in Vedanta’s remarkable journey and it is deeply emotional for me. Twenty-three years ago, Vedanta became the first Indian company to be listed on the London Stock Exchange. Since then, its businesses have created value, generated opportunities and built national capabilities. Today marks the moment when they become free to develop into strong, independent companies in their own right.”
Reflecting on the current geopolitical and economic climate and the potential of Vedanta’s five listed companies, Agarwal added: “We are living in a time of great global transformation. Tomorrow’s economy, with AI, high-tech manufacturing and the energy transition at the forefront, is going to be highly mineral, metal and energy intensive. These are precisely the sectors in which these five incredible businesses operate. As they continue to grow and thrive, they will help India to do the same. These companies have been built to serve the nation for generations, create long-term value for shareholders, strengthen India’s self-reliance and support its ambition of becoming a developed nation.”
The listing comes as India emerges as one of the world’s fastest-growing major economies. The domestic demand for the essential materials that power modern economies, including hydrocarbons, gold, silver, zinc, aluminium, iron and steel, copper and coal, is expected to grow sharply.
Against this backdrop, Vedanta says its businesses are positioned at the centre of one of the largest industrial growth opportunities of our time. “Together, they will support India’s aspirations across energy security, infrastructure creation, advanced manufacturing, digitalisation, AI-led growth, electric mobility, green technologies, energy transition and long-term national development.”
Over the past five years, Vedanta has delivered a total shareholder return of more than 300% and a cumulative dividend yield of over 70%.
Vedanta Aluminium begins its independent journey as India’s largest aluminium producer and the third-largest globally outside China, with the world’s largest single-location aluminium smelter at Jharsuguda, Odisha. The company plans to double its capacity to 6 Mt/y, with a long-term ambition to become the world’s largest integrated aluminium producer.
The Vedanta Aluminium Mines Business Unit oversees the operations of its various coal blocks and the Karnapodikonda bauxite block that it has recently secured. “When fully operationalised, these will together ensure raw material security for our alumina refinery, aluminium smelters and power plants…one coal mine has been operationalised.” These mine blocks are located in the proximity of its plant locations in Lanjigarh (Odisha), Jharsuguda (Odisha) and Korba (Chhattisgarh).
Vedanta Oil & Gas is one of India’s largest private-sector oil and gas producers and one of the India’s most strategically important energy platforms. With an ambition to scale production to 500,000 barrels per day at globally competitive costs, it intends to play a central role in strengthening India’s energy security and reducing import dependence.
Vedanta Iron & Steel (VISL) represents a strategically important and resource-secure business aligned with India’s infrastructure and manufacturing ambitions. The company is backed by nearly 4 billion tonnes of iron ore resources, approximately 800,000 t/y of metallurgical coke capacity and access to critical infrastructure including gas connectivity available at its doorstep. It is building the foundations for a 15 Mt steel business focused on value-added and increasingly green steel and specialty steel products.
The main VISL mining operation for iron ore is Sesa Goa, founded in 1954 as Scambi Economic SA Goa. Since then, it has grown to be one of the country’s top low-cost producers of iron ore, focused on Goa and Karnataka. During 1991-1995, it diversified into pig iron and metallurgical coke manufacturing. Sesa Goa also operates iron ore mines in Liberia through its subsidiary, Western Cluster Limited (WCL), managing three major deposits west of Monrovia: Bomi, Mano, and Bea.
Vedanta Power will provide stable baseload for the fastest-growing major economy in the world- India. Vedanta Power is already the country’s fifth-largest power producer with 4.2 GW operational capacity supported by long-term power purchase agreements and secure coal linkages. It has a roadmap to scale to 20 GW and venture into nuclear power as well.
Vedanta Ltd continues to be the Group’s flagship listed entity and one of India’s most significant natural resources and critical minerals businesses. Anchored by the iconic Hindustan Zinc, the world’s largest integrated zinc producer and third-largest silver producer, Vedanta Limited boasts a globally significant portfolio spanning zinc, silver, copper, nickel, ferro alloys and other strategic minerals. Through Hindustan Zinc, the Group is also developing a 1.5 Mt/y fertiliser plant to support India’s thriving agriculture.
The company is India’s only producer of nickel, with plans to scale production to 60,000 t per year to support the country’s growing requirements for energy transition and advanced manufacturing. The company’s portfolio also includes copper operations that serve a significant share of the domestic market, while its wholly-owned subsidiary FACOR is positioned to become the largest producer of special-grade ferrochrome in India and will soon become the country’s only private-sector producer in key manganese segments. Together, these businesses position Vedanta Ltd at the centre of India’s long-term critical minerals and industrial self-reliance agenda.