Rising Rajasthan Summit: Business leaders commit over Rs 10 lakh crore investments
Speaking at the inaugural session, Karan Adani, CEO of Adani Group, announced a massive Rs 7.5 lakh crore investment plan for Rajasthan.
Mumbai-based Anil Agarwal-led company Vedanta Ltd has received a go-ahead from its shareholders and creditors for its proposed plan to demerge into five sector-specific units, according to an official announcement.
The names of the five companies are Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Iron & Steel as well as Vedanta Ltd and Hindustan Zinc Limited (HZL).
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Four new companies will take shape apart from the existing company. The four new companies that will be demerged from the existing company are Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Iron & Steel and the Vedanta-Foxconn semiconductors unit.
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The announcement came after a key meeting with its shareholders and creditors voted to implement the demerger plan, the announcement stated.
Earlier, the company had proposed six separate entities. However, the plan was revised at the beginning of 2025.
The latest move is expected to streamline operations and help the company provide more focused and independent management to each unit.
Meanwhile, the company has informed the Bombay Stock Exchange (BSE) that it has raised Rs 2,600 crore through the issuance of non-convertible debentures (NCDs).
Vedanta stated that its committee of directors has approved the allotment of 2,06,000 rupee-denominated unsecured, redeemable, rated, listed, non-convertible debentures of face value of Rs 1 lakh each, aggregating to Rs 2,060 crore (Series 1 debentures).
The company has also allotted 54,000 rupee-denominated unsecured, redeemable, rated, listed, non-convertible debentures of face value of Rs 1 lakh each, aggregating to Rs 540 crores (series 2 debentures), Vedanta said.
On February 11, the company’s committee of directors had approved raising up to Rs 3,000 crore through issuance of non-convertible debentures (NCDs).
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