Vedanta demerger: Vedanta Aluminium Metal surges 331% on debut; Power, Oil & Gas, Iron & Steel list at discounts

Shares of the Vedanta Group’s four demerged companies commenced trading on the stock exchanges on Monday, marking the standalone listing of the newly carved-out entities from billionaire Anil Agarwal-led Vedanta Ltd. Of the four companies, Vedanta Aluminium Metal Ltd (VAML) made a stellar debut, while the other three entities listed at steep discounts to their discovered prices.

VAML shares listed at ₹522 apiece on the NSE against a discovered price of ₹121.03, translating into a premium of 331.3%.

In contrast, the remaining three entities debuted significantly below their discovered prices determined during the special pre-open session. Vedanta Power Ltd listed at ₹41.80 per share, a discount of 65.46% to its discovered price of ₹121.03. Vedanta Oil & Gas Ltd commenced trading at ₹38 per share, reflecting a discount of 68.6% to its discovered price of ₹121.02.

Vedanta Iron & Steel Ltd (VISL) recorded the weakest debut among the four, listing at ₹20 per share, an 83.47% discount to its discovered price of ₹121.02.

Meanwhile, shares of the parent company, Vedanta Ltd, traded marginally higher at ₹310.15, up 0.16% from the previous close, giving the company a market capitalisation of around ₹1.21 lakh crore. The stock opened at ₹313.15 and touched an intraday high of ₹318.45 as investors assessed the value-unlocking potential of the group's restructuring exercise.

On Friday, Vedanta shares had closed 1.46% higher at ₹309.50. The stock has more than doubled from its 52-week low of ₹151.13 recorded on August 29, 2025, and touched a 52-week high of ₹360.70 on May 29, 2026.

The broader market also traded firmly higher on Monday after the US and Iran reached a landmark agreement to end hostilities in the Middle East, easing concerns over potential disruptions to energy supplies through the strategically vital Strait of Hormuz. At the time of writing, the BSE Sensex was up 1,065 points at 76,600, while the NSE Nifty gained 327 points to 23,948.

The listing follows the Vedanta Group’s restructuring into five separate entities—Vedanta Ltd (the existing listed company), Vedanta Aluminium Metal Ltd, Vedanta Power Ltd, Vedanta Oil & Gas Ltd, and Vedanta Iron & Steel Ltd.

The demerger became effective on May 1 after receiving approval from the National Company Law Tribunal (NCLT). Under the approved scheme, shareholders received one share in each of the four demerged companies for every share held in Vedanta Ltd, while continuing to retain their existing Vedanta shares.

Eligible shareholders received one fully paid-up equity share each of VAML, VISL, and Vedanta Oil & Gas (face value ₹1) for every Vedanta share held. They also received one fully paid-up equity share of Vedanta Power (face value ₹10) for each Vedanta share owned.

As part of the restructuring, Vedanta’s stake in Bharat Aluminium Company Ltd (BALCO), along with certain aluminium-related non-convertible debentures (NCDs), has been transferred to VAML.

Vedanta first unveiled its demerger plan in September 2023 with the objective of creating focussed, sector-specific businesses capable of pursuing independent growth opportunities, attracting specialised investors and improving capital allocation efficiency.

The company believes the simplified structure will unlock value that may have remained embedded within the diversified conglomerate model. Each entity will now operate as a pure-play business with greater strategic flexibility, dedicated management focus and the ability to pursue industry-specific growth and investment plans.