The names of the five companies are Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Iron & Steel as well as Vedanta Ltd and Hindustan Zinc Limited (HZL).

Vedanta Ltd has received a go-ahead from its shareholders and creditors for its proposed plan to demerge into five sector-specific units, each dedicated to aluminium (Vedanta Aluminium), crude oil (Vedanta Oil & Gas), power (Vedanta Power), ferrous products (Vedanta Iron and Steel) and silver and zinc (through itself, Vedanta Ltd, and HZL).

The demerger is expected to enable greater focus of the Vedanta management on the relevant businesses thereby allowing further streamlining of operations and more efficient usage of assets and leveraging of opportunities.

Vedanta Limited approved demerger into five sector-specific companies, creating global scale businesses with focused operations and market potential.

Vedanta shares rise 1.99% after shareholders and creditors approve demerger into five entities, boosting investor confidence in restructuring and positioning the company for long-term growth.

Vedanta Ltd.’s creditors and shareholders approved a long-standing plan to split the Indian mining conglomerate into five businesses, a step that will simplify the group’s structure and reduce its debt burden.

Vedanta's shareholders and lenders have approved the oils-to-metals conglomerate's plans to split into five separate entities, the company announced on Thursday, with nods from nearly all of its secured and unsecured creditors.