The company announced about development late on Friday. Vedanta shares on NSE Rs. It was expired at 462.90, which was Rs. Were 9.45 or 2%down.
Mining Konglomrate is looking to remove its businesses – aluminum, oil and gas, power and steel – as a separate entity. Currently, these businesses come under Vedanta Limited, which is the Indian hand of the UK -based Vedanta resources.
Post the Dimerger, each Vedanta Shareholder – both retail and institutional – will achieve a new stake in each of the new dimmed companies.
The overall shareholding structure will not change, the letter said.
Chairman Anil Agarwal said in a recent letter to shareholders that investments in the company will get 7.7 times compensation at the beginning of the last 5 years. Compensation is a combination of capital appreciation and cash dividend, he added that the Metals and Mining Company has given a dividend yield of 81% during this period which is the highest of all its allies.
The letter states, “Anyone who invested in Vedanta at the beginning of the last five years, would have seen their investments multiplied by 7.7 times more.”
“Vedanta’s unique and irreversible assets, leading positions in the field, strong global management and financial discipline will ensure strong growth paths and high returns to proceed. The tremendous potential value that Demer will bring is also well captured by many tops.
Brokers and leading analysts, “said in the letter.
In the recent votes of shareholders, secure and unsafe creditors, 99.5% of the shareholders and creditors voted in favor of our Dimerger.
Agarwal said it conceived for a $ 100 billion company in Billion, which is potentially each of the new dimmed companies.
The Vedanta president also said that the company is currently contributing to 1.4% of India’s GDP.
Vedanta, who was listed on Indian exchanges in 1998, will organize more than 63.4% of Hindustan Zinc (HZL).
HZL is a consolidated manufacturer of zinc and silver.
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