In a stock exchange filing, the firm said its board has constituted a committee of directors to evaluate and recommend options for restructuring the group.
Billionaire Anil Agarwal’s Vedanta Ltd on Wednesday said it is looking at a conglomerate restructuring that could include demerger and listing of aluminum, iron and steel, and oil and gas businesses as separate entities.
In a stock exchange filing, the firm said its board has constituted a committee of directors to evaluate and recommend options for restructuring the group.
“The Board of Directors of the Company has decided that, considering the scale, nature and potential opportunities of the Company’s various business verticals, the Company should undertake a comprehensive review of the corporate structure and evaluate a full range of alternatives and alternatives ( Including demerger(s), spin-off(s), strategic partnership etc.) to unlock value and simplification of corporate structure,” it said.
Subject to detailed evaluation, it is intended that aluminum, iron and steel, and oil and gas businesses will be placed in standalone listed entities.
This is with the objectives of simplifying and streamlining the corporate structure, unlocking value for all stakeholders and creating businesses that are better positioned to capitalize on their specific market conditions and deliver long-term growth and enable strategic partnerships.
“The Board has also appointed various advisors to assist the Board in evaluating the options,” it said.
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