Vedanta demerger sees Vedanta Aluminium and Vedanta Power list on NSE and BSE

Vedanta Demerger LIVE: Vedanta Aluminium Metal, Vedanta Oil & Gas, Vedanta Power, and Vedanta Iron & Steel shares will initially be placed in the Trade-to-Trade (T2T) segment.(Image: Reuters)Vedanta Demerger LIVE: The equity shares of four new Vedanta Group companies - Vedanta Aluminium Metal, Vedanta Power, Vedanta Oil & Gas and Vedanta Iron & Steel - were listed in the Indian stock market today, 15 June, marking the final leg of the conglomerate’s mega demerger.

The listing date of these Vedanta demerged entities was fixed as June 15, Monday, and the shares were listed on both the stock exchanges, BSE and NSE, after a special pre-open session.

These four Vedanta stocks underwent price discovery in a special pre-open session which ran from 9 am to 10 am today on BSE and NSE. Trading in these Vedanta group firms’ shares began at 10:00 AM.

Vedanta Aluminium Metal, Vedanta Oil & Gas, Vedanta Power, and Vedanta Iron & Steel shares will initially be placed in the Trade-to-Trade (T2T) segment, according to the notices on the stock exchanges.

Shares of Vedanta Aluminium Metal listed at ₹522 on the NSE and ₹527 on the BSE. Vedanta Power share price opened at ₹41.80 on the NSE and ₹41.30 on the BSE. Vedanta Oil & Gas share price debuted at ₹38 and ₹39, while Vedanta Iron and Steel shares opened at ₹20 and ₹21 on the NSE and BSE, respectively.

The Anil Agarwal-led Vedanta group underwent a significant demerger process, marking one of the biggest corporate restructurings in India’s metals and mining space. Vedanta demerger record date was May 1. Under the 1:1 Vedanta demerger scheme, shareholders received one equity share of each demerged company for every one share held in the currently listed Vedanta Ltd.

Stay tuned for the live updates on Vedanta group shares listing.

Vedanta Aluminium, Vedanta Iron And Steel and Vedanta Oil & Gas shares price hit 5% lower circuit after listing. On the other hand, Vedanta Power shares touched 5% upper circuit.

The combined implied value of the five Vedanta entities stands at about ₹943.5 per original Vedanta share, based on the debut prices. This is around 18% higher than Vedanta’s pre-demerger closing price of ₹773.25 on April 29.

Vedanta Iron & Steel share price debuted at ₹22.25 apiece on the BSE.

Vedanta Oil & Gas share price got listed at ₹39 apiece on BSE.

Vedanta Power share price was listed at ₹41.30 apiece on the BSE.

Vedanta Aluminium Metal share price was listed at ₹527 per share on BSE.

Vedanta share price gained nearly 3% ahead of the listing of its demerged entities. Vedanta stock opened higher at ₹313.95 apiece as against its previous close of ₹309.50 apiece on the BSE. It hit a high of ₹318.60 apiece, gaining as much as 2.94% after the opening.

Vedanta Aluminium Metal, Vedanta Oil & Gas, Vedanta Power, and Vedanta Iron & Steel shares will initially be placed in the Trade-to-Trade (T2T) segment for 10 days, according to the notices on the stock exchanges. Hence, every transaction will require compulsory physical delivery of shares.