The shares of Vedanta Aluminium Metal made their much-awaited market debut on Monday, listing at Rs 527 apiece on the BSE as the mega demerger entered its final leg with the listing of the four firms spun out of parent Vedanta.
On the NSE, Vedanta Aluminium shares debuted at Rs 522 apiece after the special pre-open session that ran from 9-10 am. The company’s market capitalisation at debut stood at Rs 2.06 lakh crore, surpassing parent Vedanta’s total market capitalisation.
Market analysts had estimated Vedanta Aluminium to debut in the Rs 398-489 range, with Nuvama expecting the company’s market capitalisation to exceed Rs 1.74 lakh crore. Notably, Vedanta Aluminium debuted as the only large-cap stock among the four Vedanta Group companies that listed on Dalal Street following the demerger.
Is Vedanta Aluminium the new ‘crown jewel’ of Vedanta?
Vedanta Aluminium stands out as the most attractive entity, ICICI Direct said in a report. “This is supported by its strong contribution to group revenues and margins, along with favourable industry dynamics such as tight global supply, elevated aluminium prices, and ongoing capacity expansions driving volume growth,” it added.
ICICI Securities was also the most bullish on the aluminium business, saying the Iran-US conflict could result in a larger-than-expected aluminium supply deficit. Calling Vedanta Aluminium the group’s new “crown jewel”, it pegged the stock’s fair value at Rs 398 per share.
Also read: How will the mega Vedanta demerger impact dividend payouts for shareholders?
About Vedanta Aluminium
Vedanta Aluminium Metal is the largest aluminium producer in India, as well as in the US, Europe, the Middle East, Australia and Africa, according to the company. It produced more than half of India’s aluminium at 2.42 million tonnes in FY25, its website said. It operates a 5 MTPA alumina refinery in Odisha’s Kalahandi district, along with the world’s largest aluminium plant at Jharsuguda, Odisha, with a 1.85 MTPA capacity. It also operates Bharat Aluminium Company Limited (BALCO) in Chhattisgarh.
ICRA recently removed the long-term rating of Vedanta Aluminium Limited (VAML) from “watch with developing implications,” following greater clarity on the allocation of assets and liabilities under Vedanta Limited’s ongoing demerger scheme, as well as the support framework across group entities. ICRA also upgraded the rating and assigned a stable outlook to the long-term rating.
Also Read: Vedanta Iron & Steel shares list at Rs 22 on BSE as mega demerger concludes
About Vedanta demerger
The Anil Agarwal-led conglomerate announced in April that each of its eligible shareholders would receive one share in each of the four companies—Vedanta Aluminium, Vedanta Power, Vedanta Oil & Gas and Vedanta Iron & Steel—for every share held in Vedanta on the record date, marking one of the biggest corporate restructurings in India’s metals and mining space.
Vedanta had set May 1 as the record date for the much-awaited demerger. While Vedanta shares have already adjusted to the restructuring, investors were awaiting the listing of the four companies spun out of it.
According to exchange notices, Vedanta Oil & Gas, Vedanta Power, Vedanta Aluminium Metal and Vedanta Iron & Steel, which made their much-awaited market debut on Monday, will be initially placed in the Trade-to-Trade (T2T) segment, where every transaction results in compulsory delivery.
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