Vedanta Gets Creditor Approval for Demerger

Vedanta has received approval from 75% of its secured creditors to proceed with its proposed demerger, which aims to create six independent companies focused on different sectors such as aluminium, oil and gas, power, steel, base metals, and ferrous materials. This clearance allows Vedanta to seek further approval from the National Company Law Tribunal. The demerger is expected to unlock significant value and simplify Vedanta's corporate structure, offering direct investment opportunities in pure-play companies. Chairman Anil Agarwal highlighted that each demerged entity would operate independently but maintain Vedanta’s core values. The company aims to reduce its debt by $3 billion over the next three years. The approval predominantly came from state-owned banks including SBI, Canara Bank, and Punjab National Bank, among others.