Anil Agarwal-led has fixed May 1 as the record date for the demerger of its businesses into five different companies.
The company’s businesses will be split into Vedanta Aluminium Metal, Talwandi Sabo Power, Malco Energy and Vedanta Iron and Steel.
Investors holding Vedanta shares on the record date of May 1 will receive one share of each newly formed company for every one share of Vedanta held.
Further, the name of Talwandi Sabo Power and Malco Energy will be changed to Vedanta Power and Vedanta Oil and Gas.
The company has also approved the transfer of its shareholding in Bharat Aluminium (Balco) to Vedanta Aluminium.
Non-convertible debentures of the company forming part of the aluminium undertaking will be transferred to VAML on the record date, the company said.