Vedanta announces demerger, to split business into 6 listed entities

Billionaire Anil Agarwal-led Vedanta Resources on Friday announced that its board has approved the demerger of its diversified businesses. The demerger will result in the creation of six separate listed companies, the company said in an exchange filing. For every share of Vedanta Limited, shareholders will additionally receive one share of each of the 5 newly listed companies, it added.