Vedanta's demerger receives approval from shareholders and creditors

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Vedanta's demerger receives approval from shareholders and creditors - Business Standard

Quick Summary:

The demerger was approved by 99.99 per cent of shareholders, 99.59 per cent of the secured creditors, and 99.95 per cent of unsecured creditors of Vedanta Limited who voted in favour of the demerger, as per the stock exchange filing made by the company.

Vedanta Ltd has received approval from its shareholders and creditors for its proposal to demerge the company into five independent, sector-specific companies, according to a stock exchange filing by the company.

According to Vedanta's demerger scheme, every Vedanta shareholder will receive 1 additional share in each of the 4 newly demerged companies on the completion of the demerger process.