After the mega five-way split, Vedanta is now heading towards another demerger. The Anil Agrawal-led company has announced the demerger of its real estate business into Vedanta Property Platforms, a new pure-play real estate company that will later debut on Dalal Street.
The split will be completed through a scheme of arrangement between Vedanta and Vedanta Property Platforms, subject to statutory and regulatory approvals. Under the proposed vertical split, Vedanta shareholders will receive one fully paid-up equity share of Vedanta Property Platforms for every 20 fully paid-up equity shares held in Vedanta.
