Mining magnate Anil Agarwal has said his group’s flagship firm Vedanta Ltd is considering demerger and separately list all or some businesses such as aluminium, iron and steel and oil and gas to unlock shareholder value.

While London-based parent Vedanta Resources will remain the holding company of diversified mining group Vedanta Ltd, some or all businesses will operate as independent, listed companies.

In a video message to shareholders, Vedanta chairman Anil Agarwal said the company has a diversified presence in oil and gas, metals and mining and a separate listing of different businesses will help them grow many folds.

“This means if you have one share of Vedanta Ltd, you will have many shares of other (demerged) companies,” he said.

Agarwal had in November 2021 first spoken about a rejig of the corporate structure through demergers, spin-offs, and strategic partnerships. The move was aimed at simplifying and streamlining the corporate structure, unlocking value for all stakeholders and creating businesses that are positioned better to capitalise on their distinct market positions, deliver long-term growth and enable strategic partnerships. But that plan never took off.

He is now seeking shareholder and stakeholder feedback for a possible separate listing of businesses.

“Vedanta, in the last two decades, has gone into the business which is more and more import substitute; very difficult to enter these areas. We have the business of oil and gas, the largest producer of aluminium, completely integrated power, copper, zinc, silver, lead, iron and steel, nickel, ferro alloys, semiconductors, display glass and more,” he said.