Vedanta eyes options to spin off businesses

Company says the exercise is aimed at unlocking shareholder value

- AMRITHA PILLAY

Vedanta Ltd will explore options to create independent entities for some or all of its businesses, said Anil Agarwal, chairman of the India-listed company.

It did not disclose further details, including the timeline and structure of the proposal.

In a statement to the BSE, Vedanta called it an exercise aimed at unlocking stakeholder value. 

“I have been told that investors like pure play,” Agarwal told shareholders in a video message released late Thursday evening.

Agarwal said, “We have a presence across businesses that include oil and gas, aluminium, integrated power, copper, zinc, silver, lead, iron and steel, nickel, ferroalloys and semiconductor display glass. I asked my advisors and my people to look if we can make all these products or some products independent,” said Agarwal.