THEBUSINESSBYTES
BUREAU
MUMBAI, JUNE 15, 2026
In a landmark moment
for India's corporate and industrial landscape, Vedanta Group on Monday
achieved a historic milestone with the simultaneous listing of four newly
demerged companies on the Bombay Stock Exchange (BSE) and National Stock
Exchange (NSE). The unprecedented move — covering aluminium, oil & gas,
power, and iron & steel businesses — marks one of the largest
value-unlocking exercises in Indian corporate history, creating focused
sectoral champions poised to drive the nation’s ambitions in manufacturing,
infrastructure, energy security, critical minerals, and self-reliance.
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. These
newly listed entities begin trading today alongside Vedanta Limited, the
Group’s flagship listed entity anchored by Hindustan Zinc and a globally
significant portfolio of critical minerals businesses.
Speaking at the
listing ceremony, Vedanta Group Chairman Anil Agarwal said: “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.
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. Tomorrow’s economy, with AI, advanced
manufacturing and energy transition at the forefront, is going to be highly
mineral, metals and energy intensive. 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.
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.”
The listing comes at
a time when India is rapidly emerging as one of the world’s fastest-growing
major economies. Demand for essential materials that power modern economies — including
oil & gas, gold, silver, zinc, aluminium, iron and steel, copper, and coal —
is expected to rise sharply as the country accelerates its journey towards
becoming a developed economy.
Against this
backdrop, Vedanta’s businesses are strategically positioned at the centre of
one of the largest industrial growth opportunities of our time. Together, they
will support India’s aspirations in energy security, infrastructure
development, high-tech manufacturing, digitalisation, AI-led growth, electric
mobility, green technologies, energy transition, and long-term national
development.
Vedanta
Aluminium begins its independent journey as India’s largest
aluminium producer and the third-largest globally outside China. The company is
anchored by the world’s largest aluminium smelter at Jharsuguda, Odisha. What
began with just 1 lakh tonne of production at BALCO has grown into a 30 lakh
tonne-per-annum business, making Vedanta one of the world’s largest and
lowest-cost aluminium producers.
The company plans to
double its capacity to 60 lakh tonnes per annum over the next three years, with
a clear ambition to become the world’s largest and lowest-cost fully integrated
aluminium producer. Beyond primary metal production, Vedanta Aluminium aims to
foster the growth of thousands of downstream industries and manufacturing
enterprises, supporting India’s broader industrialisation agenda.
Vedanta
Oil & Gas enters the market as India’s largest
private-sector oil and gas producer and one of the country’s most strategically
important energy businesses. With India expected to witness some of the
strongest growth in hydrocarbon demand globally over the coming decade, the
company is uniquely positioned to support the nation’s energy security
ambitions and reduce import dependence.
Entering its next
phase of growth with a debt-free balance sheet, the company combines financial
strength with significant operational scale and resource potential. Vedanta
plans to invest approximately US$5 billion over the next three to five years to
scale production to 500,000 barrels per day at globally competitive costs. Its
growth portfolio spans tight oil, shale gas, shallow-water and deep-water
assets, satellite fields, as well as significant acreage in Assam and the
North-East—the region where Asia’s first oil well was drilled.
With a diversified
resource base, access to advanced global technologies, and substantial growth
opportunities, the company is poised to play a critical role in meeting India’s
future energy needs.
Vedanta
Iron & Steel represents a strategically important,
resource-secure, and debt-free business aligned with India’s infrastructure and
manufacturing ambitions. Currently producing around 4 million tonnes of steel
annually, the company has a clear roadmap to scale capacity to 15 million
tonnes per annum.
It enjoys a unique
competitive advantage through access to three critical inputs: nearly 4 billion
tonnes of iron ore resources across Goa, Odisha, and Karnataka; approximately
800 kilo tonnes per annum (KTPA) of metallurgical coke; and gas pipeline
infrastructure available at its doorstep. These integrated advantages position
the company strongly to participate in India’s rapidly growing steel demand.
The business will
focus on high-value segments including green steel, electrical steel, and
specialty steel, supporting both industrial growth and the country’s ambitious
infrastructure objectives.
Vedanta
Power is being ramped up to provide stable baseload
power for the world’s fastest-growing major economy—India. As the country’s
power demand is expected to nearly double from around 240 GW today to more than
460 GW over the next decade, the company sees a significant opportunity to
support India’s growth ambitions.
Already India’s
fifth-largest thermal power producer with 4.2 GW of operational capacity,
supported by long-term power purchase agreements and secure coal mines, Vedanta
Power has a clear roadmap to scale up to 20 GW and become one of the country’s
leading power producers. Most of this growth will come through brownfield
expansion, leveraging existing infrastructure and operational advantages.
The company believes
coal will continue to play an important role in India’s energy mix for decades
to come, coexisting alongside renewable and clean energy sources. In parallel,
Vedanta Power is evaluating opportunities in nuclear energy, recognising its
potential as a clean, reliable 24x7 power source and a key enabler of India’s
energy transition.
Alongside these newly
listed companies, Vedanta Limited
continues as the Group’s flagship listed entity and one of India’s most
significant natural resources and critical minerals businesses. Anchored by the
iconic Hindustan Zinc — the world’s largest integrated zinc producer and
third-largest silver producer — Vedanta Limited houses a globally significant
portfolio spanning zinc, silver, copper, nickel, ferro alloys, and other
strategic minerals that are increasingly critical to the future global economy.
Through Hindustan Zinc, the company is also developing a 1.5-million-tonne fertiliser plant to support India’s agricultural ambitions. Vedanta Limited is India’s only producer of nickel, a critical mineral, with plans to scale production to 60,000 tonnes per year to support the country’s growing requirements for energy-transition technologies and advanced manufacturing.
Its copper operations contribute significantly to domestic supply, while FACOR is positioned to become India’s largest producer of special-grade ferro chrome and will soon become the country’s only private-sector producer in certain manganese segments. Together, these businesses position Vedanta Limited at the centre of India’s long-term critical minerals strategy, industrial self-reliance agenda, and future manufacturing growth.
