Anil Agarwal states that Vedanta is proceeding with the demerger of its businesses

Anil Agarwal, Chairman of Vedanta, announced on Wednesday that the company will proceed with the planned demerger of its businesses, resulting in the creation of six new firms and unlocking significant value.

The majority of the company's creditors have given their approval for the proposed demerger of businesses, which is a significant milestone in the company's plan to separate into six independent listed companies.

Speaking at the 59th Annual General Meeting, the Chairman informed shareholders that the company will proceed with the separation of its businesses, resulting in the formation of 6 robust entities, each representing Vedanta's essence. This will reveal substantial worth.

He stated that every separate company will chart its path while adhering to Vedanta's fundamental principles, entrepreneurial mindset, and international influence.

The chairman mentioned that every entity will have increased autonomy in capital allocation and growth strategies. He also stated that investors will be free to invest in their preferred industries, expanding Vedanta's investor base. Currently, 70% of Vedanta's revenue comes from crucial future minerals, which the company aims to produce sustainably.

Agarwal stated that the company had put more than USD 35 billion into India and is dedicated to continuing growth.

This year, we focused on expanding quickly with the 1.5 MTPA expansion at our alumina refinery in Lanjigarh, starting operations at the Bicholim mine in Goa, and beginning production at our Jaya oilfield in Gujarat. He mentioned that we doubled our merchant power capacity to 5 GW by acquiring the Athena and Meenakshi power plants in FY24.

Currently, the company is working on more than 50 projects that have great potential to increase volume, integrate business operations, and improve the variety of value-added products offered.