Vedanta group's four demerged businesses have made their stock market debut on the bourses, after a special pre-open session today, marking the final leg of the conglomerate's mega demerger. Besides Vedanta Ltd, which is already listed, the shares of four newly created entities -- Vedanta Aluminium Metal (VAML), Vedanta Oil & Gas (VOGL), Vedanta Power and Vedanta Iron & Steel (VISL), got listed on NSE and BSE.
Here are the listing prices as compared to the issue prices.
- Vedanta Iron & Steel
- Issue Price: Rs 121
- Listing Price on BSE: Rs 22.25
- Listing Price on NSE: Rs 20.00
- Vedanta Oil & Gas
- Issue Price: Rs 121
- Listing Price on BSE: Rs 39.00
- Listing Price on NSE: Rs 38.00
- Vedanta Power
- Issue Price: Rs 121
- Listing Price on NSE: Rs 41.80
- Listing Price on BSE: Rs 41.30
- Vedanta Aluminium
- Issue Price: Rs 121
- Listing Price on BSE: Rs 527.00
- Listing Price on NSE: Rs 522.00
Vedanta shareholders had received one equity share in each of the four demerged cos for every one share held in the Anil Agarwal-led group.
Investors should note that the newly-listed stocks will initially be placed in the trade-to-trade (T2T) segment. The segment requires compulsory delivery for all trades or transactions during the initial period. This will be applicable for the first 10 trading sessions.
The demerger of the metals-to-mining conglomerate was approved by the National Company Law Tribunal in December last year. Under the 1:1 approved demerger scheme, shareholders will receive one share of each demerged company for every one share held in Vedanta Ltd.
According to domestic brokerage Nuvama Institional Equities, Vedanta and Vedanta Aluminium will likely remain large-caps, while more domestic flows are expected for Vedanta Ltd and Vedanta Alumnium. Emkay Global had described the exercise as a "pure-play transition", saying individual businesses could attract dedicated investor interest and potentially command higher valuations.
from NDTV News- Special https://ift.tt/vaGzCQr
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