Vedanta shares jump 2% on demerger scheme approval from NSE, BSE

By Aditya Bhagchandani Published on August 1, 2024, 09:38 IST Last updated August 1, 2024, 09:39 IST

Vedanta Ltd’s shares climbed 2% on Wednesday following the company’s announcement that it has received approvals from major stock exchanges for its demerger plan.

Key Updates

Approval from Exchanges:
- BSE: Clearance received on July 31, 2024
- NSE: Clearance received on July 30, 2024
Demerger Plan: Vedanta aims to split into six independent listed entities, including divisions for oil and gas, and aluminium.

Next Steps

Application: Vedanta will soon file with the National Company Law Tribunal (NCLT).
Pending Approvals: The scheme is subject to additional regulatory approvals, including from the NCLT, and the company’s shareholders and creditors.

As of 9:37 AM the shares of Vedanta were trading 2.25% higher at ₹460.90 on NSE.

Vedanta

Aditya Bhagchandani

Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.