Vedanta listings: 4 new Vedanta Group stocks debut on Dalal Street. What's ahead?
Four Vedanta Group firms — Vedanta Aluminium, Vedanta Power, Vedanta Oil & Gas, and Vedanta Iron & Steel — made their much-awaited debut on the
Four Vedanta Group firms — Vedanta Aluminium, Vedanta Power, Vedanta Oil & Gas, and Vedanta Iron & Steel — made their much-awaited debut on the BSE and NSE after a special pre-open session today, marking the final leg of the conglomerate’s mega demerger.Vedanta Aluminium shares are listed as the only large-cap on the list, debuting at Rs 527 apiece on the BSE with a market capitalisation of Rs 2.06 lakh crore, surpassing its parent Vedanta. Vedanta Power debuted at Rs 41.30 per share, while Vedanta Oil & Gas and Vedanta Iron & Steel were listed at Rs 39 and Rs 22 apiece, respectively.The Anil Agarwal-led group had announced in April that each eligible shareholder would receive one share in each of the four companies for every Vedanta share held on the record date, in what is among India’s biggest corporate restructurings in the metals and mining sector.Vedanta had fixed May 1 as the record date for the much-awaited demerger. While Vedanta shares have already adjusted for the restructuring, investors were awaiting the listing of the four spun-off entities.4 Vedanta stocks undergo price discovery in special pre-open sessionThe special pre-open session ran from 9 am to 10 am today on the NSE and BSE, after which trading in these stocks commenced. According to exchange notices, shares of Vedanta Oil & Gas, Vedanta Power, Vedanta Aluminium, and Vedanta Iron & Steel will initially be placed in the Trade-to-Trade (T2T) segment, where all transactions are settled through compulsory delivery.Also read: How will Vedanta demerger impact dividend payouts for shareholders?Vedanta Aluminium MetalVedanta Aluminium Metal is the largest aluminium producer in India, according to the company.
It produced more than half of India’s aluminium at 2.42 million tonnes in FY25, according to its website. It operates a 5 MTPA alumina refinery in Odisha's Kalahandi district, along with the world’s largest aluminium plant at Jharsuguda, Odisha with 1.85 MTPA capacity. It also operates Bharat Aluminium Company Limited (BALCO) in Chhattisgarh.Vedanta Aluminium has a vision to double the existing production capacity to 60 lakh tonnes per annum, deep backward integration and structural cost advantages.ICRA recently removed the long-term rating of Vedanta Aluminium Limited (VAML) from watch with developing implications, following greater clarity on the allocation of assets and liabilities under the ongoing demerger scheme of Vedanta Limited as well as the support framework across group entities. ICRA has also upgraded the rating and assigned a Stable outlook to the long-term rating.Sunny Agrawal, Head of Fundamental Research at SBI Securities, said an investor can buy the shares of Vedanta Aluminium Metal on the back of robust capacity expansion of aluminium and strong LME Aluminium prices. He said that the fair value of Vedanta Aluminium Metal stands at Rs 489 apiece."Among the demerged businesses, Vedanta Aluminium stands out as the most attractive entity, with an expected listing valuation of Rs 400+ per share. This is supported by its strong contribution to group revenues and margins, along with favourable industry dynamics such as tight global supply, elevated aluminium prices, and ongoing capacity expansions driving volume growth," said ICICI Direct in a report.Also read: At what price will each of the four new Vedanta companies list?
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