Vedanta Demerger: Final Trading Day for Eligibility Ahead of Demerger Record Date

Vedanta Share Price Surges Ahead of Demerger and Q4 Results Announcement

Vedanta's share price was trading higher on Wednesday, driven by two key developments: the company's demerger and its Q4 results announcement. The company will announce its Q4 results today, with Vedanta's share price trading over 1% higher ahead of the earnings announcement.

The demerger is nearing its record date of May 1, 2026, but due to the stock market holiday on that day, Vedanta shares will trade ex-demerger on April 30, 2026. As a result, today is the last day to buy Vedanta shares to avail the demerger benefits, taking into account the T+1 settlement cycle. Only shareholders who hold Vedanta shares in their demat accounts by the close of trading on April 29 will qualify for the demerger benefits. Investors purchasing Vedanta stock on or after April 30 will not be eligible.

Vedanta's Demerger Structure

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Vedanta, led by Anil Agarwal, has announced its demerger into five separate publicly listed companies: Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, and Vedanta Limited. The demerger ratio is 1:1, meaning eligible shareholders will receive one share each of these demerged companies for every one share they hold of the consolidated entity as on the record date. The company's board of directors has fixed the Vedanta demerger record date and Vedanta demerger effective date as May 1.

Vedanta Share Price Discovery

The stock exchanges BSE and NSE will conduct a special pre-open session (SPOS) on April 30, 2026, for Vedanta share price discovery. The session will run from 9:15 AM to 9:45 AM, with regular trading commencing at 10:00 AM, reflecting the ex-demerger price. The share price of four demerged entities will be derived from the difference between Vedanta's closing price on April 29 and the price discovered during the special pre-open session on April 30.

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Should You Buy Vedanta Shares Ahead of Demerger Record Date?

According to Sunny Agrawal, Head of Fundamental Research at SBI Securities, Vedanta's fair value is estimated in the range of ₹880 – ₹900 over a 12–18 month horizon. He noted that around 54% of the valuation is attributed to the aluminium business, while nearly 33% is linked to the existing listed operations, including zinc and base metals post-demerger. Based on this, investors may consider accumulating Vedanta shares at current levels ahead of the record date.

Avinash Gorakshakar highlighted that while the sum-of-the-parts (SOTP) valuation indicates meaningful upside, investors should also assess the individual entities' balance sheet strength and their ability to withstand commodity price volatility. He added that the real value of the demerger lies in potential re-rating. Currently, the conglomerate structure results in a 20–30% valuation discount. Post-demerger, individual businesses could command valuations comparable to peers such as Hindalco Industries in aluminium and Oil and Natural Gas Corporation (ONGC) in oil and gas, potentially narrowing the discount and unlocking shareholder value.

At 11:25 AM, Vedanta share price was trading 1.53% higher at ₹750.50 apiece on the BSE.