Vedanta shares in focus as board fixes demerger record date; scheme effective on May 1

The Anil Agarwal-led company’s board of directors, at a meeting held on Monday, April 20, as a part of its ongoing reorganisation, fixed May 1, 2026, as the record date for determining the shareholders eligible to receive consideration pursuant to the scheme of arrangement of its demerger into four entities (apart from already listed Vedanta).

The scheme will be effective on the same day, i.e., May 1, 2026, according to a regulatory filing.

Following the demerger, Vedanta will split into five entities, including the already listed Vedanta, and four new companies, namely Vedanta Aluminium Metal Limited (VAML), Talwandi Sabo Power Limited (TSPL), Malco Energy Limited (MEL), and Vedanta Iron and Steel Limited (VISL).

Under the scheme, eligible shareholders will receive one fully paid-up equity share of VAML, MEL, and VISL, with a face value of ₹1 each, for every one fully paid-up equity share of ₹1 each of the Vedanta they already own.

Furthermore, eligible shareholders will also be allotted one fully paid-up equity share of TSPL, with a face value of ₹10 each, for every one fully paid-up equity share of ₹1 each of Vendata they already own.

NCDs

Additionally, the mining firm said that its non-convertible debentures (NCDs) (bearing ISINs INE205A07196, INE205A07220, INE205A08038 and INE205A08020) forming a part of Aluminium Undertaking will be transferred to VAML.

The board also fixed May 1, 2026, as the record date for determining the debenture holders for the said transfer pursuant to the scheme.

Name change

The board of directors approved the change of the name of Talwandi Sabo Power Limited (TSPL) to Vedanta Power Limited, and of Malco Energy Limited (MEL) to Vedanta Oil and Gas Limited.

“Further, in terms of the Scheme and upon effectiveness thereof, the name of Talwandi Sabo Power Limited and Malco Energy Limited will change to ‘Vedanta Power Limited’ and ‘Vedanta Oil and Gas Limited’ respectively or such other name as may be approved by the Registrar of Companies (“ROC”),” the regulatory filing read.

Additionally, as part of the overall reorganisation, the company also approved the transfer of its shareholding in Bharat Aluminium Company Limited (BALCO) to VAML.

Vedanta has a total market capitalisation of ₹3.01 lakh crore as of April 20, 2026, according to data on the NSE.