Vedanta's creditors will meet next month to approve the proposed demerger, aiming for listing various entities by the June quarter. A shareholders' meeting is also likely within the 90-day deadline post-NCLT approval. Initially announced in September 2023, the demerger plan involves creating six entities, with base metals retained by Vedanta for now. View More

The meeting of Vedanta 's creditors next month to give their go-ahead for the company's proposed demerger will be a major step, paving the way for the listing of the various entities by the June quarter, a person aware of the development said. Budget with ETIndia’s growing trade imbalance with China: Can Budget 2025 provide a solution?Will Chandrababu Naidu-ruled Andhra Pradesh continue to be Modi govt's focus point?Tax cuts, tariff, growth strategies top Indian industry's Budget wish list Apart from the meeting with the creditors, Vedanta is also likely to convene a meeting with its shareholders before the 90-day deadline from the NCLT's approval on November 25. Vedanta had announced the demerger in September 2023, estimating the demerger to be completed in 12-15 months. It had announced creating six entities - Vedanta Aluminium , Vedanta Oil & Gas, Vedanta Power , Vedanta Steel and Ferrous Materials , Vedanta Base Metals and Vedanta Limited. In December last year though, the company decided to retain base metals within Vedanta itself, citing that a demerger will be considered when the business evolves and matures. This change in the scheme of arrangement, though, will not impact the regulatory proceeding, the person said. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)