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Vedanta demerger listing: 4 new stocks debut Monday, brokerages indicate price
Four Vedanta demerger stocks list Monday. Brokerages estimate 10-15% discount to NAV. Metals spin-offs offer pure-play exposure. See valuations and trading implications.
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Four demerged entities of the Vedanta Group will debut on Indian stock exchanges Monday, with brokerages releasing indicative listing prices for the new shares.
The four companies spun off cover aluminium, iron ore, copper and steel operations. The restructuring, approved by shareholders and the National Company Law Tribunal, separates these assets from Vedanta Ltd. Vedanta Ltd will retain the oil and gas business and other holdings. Shareholders of Vedanta Ltd received one share in each new entity for every share they held as of the June 28 record date.
Brokerages tracking the group have estimated the expected listing price based on the net asset value (NAV) of each unit as of that record date. Most expect an opening discount of 10% to 15% below NAV. The actual listing price will hinge on market conditions and investor demand at Monday's opening bell. Some analysts view the discounted price as an entry point for investors seeking direct exposure to specific metals segments.