Vedanta announces demerger of real estate business into new listed company
Vedanta's board approved the demerger of its real estate business into a new entity, Vedanta Property Platforms Ltd (VPPL), to enhance value from surplus land and assets. Shareholders will receive one share of VPPL for every 20 shares of Vedanta, with no cash consideration involved. The demerger, which includes approximately 2,200 acres of land and various properties, awaits regulatory approvals and aims to improve management and valuation of the real estate segment.