Mumbai: Vedanta Group on Tuesday scripted corporate history in India with the listing of four newly-demerged companies on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Through the landmark listing, Vedanta Group created a portfolio of world-class businesses across strategic metals, critical minerals, aluminium, oil & gas, power, and iron & steel sectors.
The listing of Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Iron & Steel and Vedanta Power represents the culmination of a future-ready transformation designed to unlock value, sharpen business focus and create sector leaders aligned with India’s emergence as a global economic and manufacturing powerhouse, the group said in a press release.
The newly-listed entities began trading on Tuesday alongside Vedanta Limited, the group’s flagship listed entity anchored by Hindustan Zinc and a globally significant portfolio of critical minerals businesses.
The newly-listed companies made a strong opening at exchanges.
“Today is a historic day for Vedanta, and a deeply emotional one for me. 24 years ago, Vedanta became the first Indian company to list on the London Stock Exchange and went on to become a FTSE100 company. The seed we sowed that day has grown into a vast banyan tree, and the saplings nurtured under it are now ready to become giants in key sectors and contribute significantly to India’s rapid growth. The next stage of unprecedented growth is now being unveiled here in Mumbai, the city where my own business journey began,” Vedanta Group Chairman Anil Agarwal said at the listing ceremony.
“Throughout our journey, we have been deeply committed to our shareholders. Over the last five years, we have delivered a total shareholder return of more than 300 per cent, nearly five times the return of the Nifty, while also providing a cumulative dividend yield of over 70 per cent,” Agarwal stated.
“Today, India imports 50 percent of its requirements. Tomorrow we must be self-sufficient. The companies we have listed today will play a significant role in bridging the huge demand-supply gap for these vital raw materials. These companies have been built to serve the nation for generations, create long-term value for shareholders, strengthen India’s self-reliance and support its ambition of Viksit Bharat,” Agarwal pointed out.
“But the next chapter of Vedanta’s growth cannot be written by us alone. It will require the trust of our shareholders, the support of the government, and the aspirations and partnership of 1.5 billion Indians. There is no place like India. And this is India’s time.”
