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Vedanta Ltd will explore options to create independent entities for each of its businesses, said Anil Agarwal, the billionaire chairman of the India-listed company.
“I have been told that the investors like pure play,” Agarwal told shareholders in a video message released late evening on Thursday.
Vedanta has presence across businesses that include oil and gas, aluminium and power and it has plans for semiconductor display glass. “I asked all my advisors and my people to look into 'can we have these all products or some product to be independent,'” said Agarwal. “Independent management and the leadership can grow this business to the highest level — they remain focused, to create value also, to develop several other products within this product.”
Hinting at the option of listing businesses as separate entities, Agarwal said: "This means that if you have one share of Vedanta limited, you will have many shares of other companies and people will have an opportunity to invest in different areas, some international companies want to invest in a particular area, they will get that opportunity.”
Vedanta Ltd told BSE in a disclosure: "At this point, it is just a thought and basis the feedback, progress made in this regard, if any, shall be subject to the due diligence, requisite approvals and regulatory compliances/ disclosures as may be necessary.
