Mining major Vedanta has completed its mega demerger, with investors now awaiting the listings of the four new companies that spun out of the parent company in the process. While the exact dates remain unknown, recent large demergers like those of Tata Motors CV, Siemens Energy, ITC Hotels, Jio Financial Services, Piramal Pharma and NMDC Steel can give us a hint.
In April, Vedanta announced that each of its eligible shareholders would receive one share each of Vedanta Aluminium Metal (VAML), Talwandi Sabo Power (to be renamed Vedanta Power), Malco Energy (to be renamed Vedanta Oil and Gas) and Vedanta Iron and Steel for every share held in the parent company—marking one of the biggest corporate restructurings in India’s metals and mining sector.
Vedanta shares at the end of the month adjusted to mega demerger , appearing to have crashed more than 63% in one single day. The stock then recorded sharp gains. While the eligible shareholders can continue trading Vedanta stock, the value attributable to these new entities is currently in price-discovery limbo—from the record date until their listings—since investors cannot trade them yet, even as Vedanta’s share price has already adjusted lower post-demerger.
What recent large demergers indicate
Nuvama Institutional Equities in a recent report said that while the exact dates for four listings are unknown so far, the recent large demergers like Tata Motors CV, Siemens Energy, ITC Hotels, Jio Financial Services, Piramal Pharma and NMDC Steel can indicate that listing timelines can range from 3 weeks to several months, depending on regulatory and operational factors.
Tata Motors, the most recent and significant demerger, saw the automaker’s commercial vehicle arm demerge from its passenger vehicle unit. On October 14 last year, Tata Motors PV shares adjusted to the demerger and began trading excluding the value of the CV business. Around a month later, Tata Motors CV shares, which were later renamed to Tata Motors, got listed on stock exchanges BSE and NSE on November 12.
The demerger of Siemens Energy from Siemens also took place in the same year, with the shares of the parent company adjusting to the restructuring on April 7. Around 73 days later, the shares of Siemens Energy debuted on BSE and NSE on June 19.
ITC Hotels also demerged from parent ITC in 2025, with the shares of the company debuting 23 days after the record date. Prior to that, Jio Financial Services listed on stock exchanges 32 days after Reliance Industries shares adjusted to the demerger. In 2022, Piramal Pharma and NMDC Steel shares listed around 48 days and 4 months after the shares of their respective parent companies adjusted to the corporate actions.
