On Monday, June 15, 2026, four demerged business units of Vedanta Ltd—Vedanta Aluminium Metal, Vedanta Power, Vedanta Oil & Gas, and Vedanta Iron & Steel—officially began trading as independent stocks. This move completes the Anil Agrawal-led conglomerate's strategy to split its extensive metal and mining operations into five distinct businesses, with the existing Vedanta Ltd already being a listed entity.
Listing Performance Highlights
Among the newly listed entities, Vedanta Aluminium emerged as the largest, opening at Rs 527 per share. This valuation gave the aluminium unit a substantial market capitalization of Rs 2.06 lakh crore. Brokerage firms had previously estimated its fair value to range between Rs 420 and Rs 606, with an average of Rs 463.2. Analysts noted that the company's perceived value surpassed even that of the existing Vedanta itself in some assessments.
Vedanta Power began its trading journey at Rs 41.80, achieving a market capitalization exceeding Rs 16,100 crore. Its fair value, based on Sum-of-the-Parts (SOTP) valuations, was anticipated to fall within the Rs 10-60 range, averaging around Rs 31-32 according to brokerage reports.
The other two entities, Vedanta Oil & Gas and Vedanta Iron & Steel, commanded lower initial valuations. Vedanta Oil & Gas listed at Rs 39, with a market cap of Rs 15,250 crore, while Vedanta Iron & Steel debuted at Rs 22.25, valuing it at Rs 8,700 crore. Their respective fair values were pegged around Rs 51-52 and Rs 19-20.
Brokerage Outlook and Trading Rules
Leading brokerage houses, including Nuvama, Kotak, ICICI Securities, CLSA, and Motilal Oswal, highlighted several critical factors for assessing the long-term value of these stocks. Key areas of focus include debt allocation, strategies for becoming debt-free, capital expenditure plans, capacity expansion, and future dividend policies.
It is important for investors to note that all four newly listed Vedanta Group companies will trade in the trade-to-trade segment (T-segment) for their initial ten trading sessions. This means that intra-day buying and selling are not permitted; investors must take delivery of the shares. Additionally, a five percent circuit filter will be applied in both directions to manage price volatility.