Vedanta Power shares list at Rs 42 as mega demerger concludes

The shares of Vedanta Power listed at Rs 41.80 apiece on NSE, as the four new stocks which spun out of Vedanta during its mega demerger made their much-awaited market debut today.

Vedanta Power shares debuted on BSE at Rs 41.30 apiece. The small-cap company’s market capitalisation during the time of market debut stood at Rs 16,149.90 crore.

Market analysts had expected Vedanta Power to debut with a share price in the range of Rs 35-60 apiece. Nuvama had expected Vedanta Power to command a market capitalisation of Rs 17,466 crore at the time of its market debut.


Also read: Which demerged Vedanta stock should you buy after their market debut on June 15?

About Vedanta Power
Vedanta Power has more than 4 GW of installed capacity in four strategic assets in Punjab, Andhra Pradesh, Chhattisgarh and Odisha. It has several long-term and mid-term Power Purchase Agreements (PPAs) with state utilities.

The power company aims to become one of India’s top three private thermal power players by FY33 through a combination of organic expansion and asset turnarounds. Its portfolio comprises Vedanta Power Talwandi Sabo Thermal Plant in Punjab (1,980 MW), Vedanta Power Meenakshi Energy in Andhra Pradesh (1,000 MW), Vedanta Power Sakti in Chhattisgarh (600 MW operational with another 600 MW under commissioning), and Vedanta Power Jharsuguda Thermal Plant in Odisha (600 MW).

Also read: 4 new Vedanta stocks list today. Target price and what else to expect

About Vedanta demerger
The Anil Agarwal-led conglomerate announced in April that each of its eligible shareholders will get one share in each of the four companies, namely Vedanta Aluminium, Vedanta Power, Vedanta Oil & Gas and Vedanta Iron & Steel, for every share held in Vedanta held on record date, marking one of the biggest corporate restructuring in India’s metals and mining space.

Vedanta had set May 1 as the record date for the much-awaited demerger. While Vedanta shares have already adjusted to the restructuring, investors were actively awaiting the listing of the four companies that spun out of it.

According to exchange notices, Vedanta Oil & Gas, Vedanta Power, Vedanta Aluminium Metal and Vedanta Iron & Steel which made their much-awaited market debut on Monday will be initially placed in the Trade-to-Trade (T2T) segment, where every transaction results in compulsory delivery.

Also read: How will the mega Vedanta demerger impact dividend payouts for shareholders?

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