Vedanta Limited Fixes May 1, 2026 as Record Date for Composite Scheme of Arrangement
Vedanta Limited has set May 1, 2026, as the record date for its Composite Scheme of Arrangement, effective May 1, 2026. Shareholders will receive new shares in demerged entities like VAML, TSPL, MEL, and VISL. BALCO's sale to VAML is expected by April 30, 2026.
The announcement pertains to a significant composite scheme of arrangement involving demergers of multiple undertakings and the transfer of a major subsidiary (BALCO). This will fundamentally alter the company's structure and is a material event for shareholders and debenture holders.
The announcement details a corporate restructuring and demerger process, including setting a record date. While it involves significant structural changes, there are no immediate financial performance indicators or events that would suggest a positive or negative market reaction.
Vedanta Limited announced that its Board of Directors, in a meeting held on April 20, 2026, approved making the Composite Scheme of Arrangement effective from May 1, 2026. As part of this reorganization, May 1, 2026, has been fixed as the record date for determining eligible shareholders to receive consideration for the demerger of various undertakings.
Eligible shareholders as of the record date will receive equity shares in the resulting companies. Specifically, for the demerger of the Aluminum Undertaking, Vedanta Aluminium Metal Limited (VAML) will issue one equity share for every one equity share of Vedanta Limited. For the Merchant Power Undertaking, Talwandi Sabo Power Limited (TSPL), renamed Vedanta Power Limited, will issue one equity share of face value ₹10 for every one equity share of Vedanta Limited. For the Oil and Gas Undertaking, Malco Energy Limited (MEL), renamed Vedanta Oil and Gas Limited, will issue one equity share for every one equity share of Vedanta Limited. Similarly, for the Iron Ore Undertaking, Vedanta Iron and Steel Limited (VISL) will issue one equity share for every one equity share of Vedanta Limited.
Additionally, Non-Convertible Debentures (NCDs) forming part of the Aluminium Undertaking will be transferred to VAML, with May 1, 2026, also set as the record date for determining eligible debenture holders for this transfer. The company also approved the transfer of its shareholding in Bharat Aluminium Company Limited (BALCO) to VAML. The turnover of BALCO for the year ended March 31, 2025, was ₹15,909 Crores, representing 10% of Vedanta's consolidated turnover, and its net worth was ₹12,088 Crores, 39% of the consolidated net worth. The agreement for the sale of BALCO shares to VAML is expected to be signed on or before April 30, 2026, with completion also anticipated by the same date. VAML, a wholly-owned subsidiary, will issue Compulsorily Convertible Debentures (CCDs) not less than the fair market value of BALCO.
What to do with a filing like this
Vedanta Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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