Shares of billionaire Anil Agarwal-led Vedanta surged over 3% to hit a new all-time high in early trade on Tuesday after the company unveiled the record date for its demerger process. The board of directors, at a meeting held on April 20, fixed May 1, 2026, as the record date for the demerger into four entities, apart from the already listed Vedanta.

Reacting to the news, shares of Vedanta rose by as much as 3.1% to touch a fresh record high of ₹794.90 on the BSE, while its market capitalisation crossed ₹3 lakh crore to ₹3.06 lakh crore. The metal and mining heavyweight has nearly doubled from its 52-week low of ₹398.85 hit on May 9, 2025.

On a year-to-date (YTD) basis, the stock has delivered a return of around 30%, despite sharp volatility in the broader market, where benchmark indices—the Sensex and the Nifty—have corrected by 7–8%. The stock has rallied 20% over the past one month and surged 64% in the past six months.

In an exchange filing on Monday, Vedanta said its board has set May 1 as the record date to determine shareholders eligible to receive benefits under the proposed demerger scheme. “In consultation with VAML, TSPL, MEL and VISL, the board has fixed May 1, 2026, as the record date for determining the shareholders eligible to receive consideration pursuant to the scheme,” the company said.

As part of the restructuring, Vedanta will be divided into five separate entities—the existing listed Vedanta and four newly created companies: Vedanta Aluminium Metal Limited (VAML), Talwandi Sabo Power Limited (TSPL), Malco Energy Limited (MEL), and Vedanta Iron and Steel Limited (VISL).

Under the approved scheme, eligible shareholders will receive one fully paid-up equity share each of VAML, MEL, and VISL (face value ₹1) for every one equity share of Vedanta they hold.

In addition, shareholders will be allotted one fully paid-up equity share of TSPL (face value ₹10) for every one equity share of Vedanta they own.

The company also stated that certain non-convertible debentures (NCDs) linked to its aluminium business will be transferred to VAML as part of the reorganisation.

Further, the board has approved the renaming of TSPL to Vedanta Power Limited and MEL to Vedanta Oil and Gas Limited, subject to regulatory approvals. The changes will take effect once the scheme is implemented and the new names are cleared by the Registrar of Companies.

As part of the broader restructuring plan, Vedanta will also transfer its shareholding in Bharat Aluminium Company Limited (BALCO) to VAML.

Vedanta had initially announced the demerger plan in September 2023, which received approval from shareholders and creditors in February 2025. However, the finalisation was delayed due to pending regulatory approvals, including those from the NCLT and government authorities.

The company believes the demerger will unlock value for shareholders and allow them to invest in specific business verticals. For every one share of Vedanta held, shareholders will receive one share in each of the four newly listed companies (excluding the parent entity) upon completion of the demerger.