Vedanta's Demerger: Expected Listing Dates for New Stocks on NSE and BSE
Vedanta demerger: When will the four new stocks list on NSE, BSE? Here's what investors can expect
The Economic TimesImage: The Economic Times
Vedanta has successfully completed its demerger, resulting in the creation of four new entities. Investors can expect these new stocks to list on the BSE and NSE by mid-June, following the company's filing for listing approval. The share price of the parent company has adjusted to reflect this significant restructuring.
- 01Vedanta has completed its demerger, creating four new entities.
- 02Investors will receive one share of each new company for every share of Vedanta held.
- 03The listing of the new stocks on BSE and NSE is expected by mid-June.
- 04Vedanta's share price has adjusted post-demerger, showing a nearly 6% increase.
- 05Analysts have set target prices for the new entities, indicating potential growth.
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Vedanta, a major player in the mining sector, has completed its demerger, leading to the formation of four new companies: Vedanta Aluminium Metal, Vedanta Power, Vedanta Oil and Gas, and Vedanta Iron and Steel. Each eligible shareholder will receive one share of these newly formed entities for every share of Vedanta held, marking a significant restructuring in India's metals and mining industry. The record date for this demerger was set for May 1, but due to a market holiday, the adjustment occurred on April 30, resulting in a sharp drop of over 63% in share price on that day. Currently, the new entities are in a price-discovery phase as they await listing approval, which Vedanta Resources CEO Deshnee Naidoo announced would be filed next week. Shares are expected to begin trading by mid-June. Analysts from Nuvama Institutional Equities have provided target prices for the new companies, valuing Vedanta's zinc and copper at ₹336 per share and aluminium at ₹477 per share, among others. Meanwhile, Vedanta's share price has risen nearly 6% post-demerger, reaching an intraday high of ₹305.90 on the NSE.
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The demerger allows shareholders to benefit from potential growth in the newly formed companies, which may lead to increased investment opportunities in the metals and mining sector.
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