Vedanta announces demerger plan to create six new companies
Vedanta is one of the largest generators of power and purchasers of renewable energy in the country now.
MUMBAI: Vedanta group chairman Anil Agarwal has reiterated the plan to go ahead with the demerger of its businesses that will create six more new Vedantas in their own right.
The process will see Vedanta shareholders getting one new share in each of the five new companies for each of their equity now.
Addressing the shareholders at the annual general meeting on Wednesday, he said as of June 2024, the total shareholder return over the past five years is 276 per cent with an average accumulated dividend yield is 65 per cent in the same period, putting Vedanta in the top bracket of dividend payers.
The company has so far invested over $35 billion in the country and contributes around 1.4 per cent of the national GDP, he said, adding Vedanta is the largest private sector producer of oil, the largest producer of aluminium in the country and the sole producer of zinc and silver.
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