NEW DELHI: Vedanta group's four demerged entities -- Vedanta Aluminium Metal, Vedanta Power, Vedanta Oil and Gas and Vedanta Iron And Steel -- made their stock market debut on Monday.
Shares of Vedanta Aluminium Metal began trading at Rs 527 and further hit a high of Rs 538 on the BSE.
Vedanta Power listed at Rs 41.30 and further climbed to Rs 43.35.
Shares of Vedanta Oil and Gas started trading at Rs 39 and scaled to a high of Rs 40.95.
Vedanta Iron And Steel shares listed at Rs 22.25.
Later in the trade, shares of Vedanta Aluminium Metal were quoting lower from their opening price, Vedanta Oil and Gas and Vedanta Iron And Steel also traded lower.
However, Vedanta Power was trading 3.63 per cent higher from the opening price.
Vedanta Aluminium Metal's market valuation stood at Rs 1,95,773.58 crore, while Vedanta Power's mcap was Rs 16,736.46 crore on the BSE.
Vedanta Oil and Gas commanded a market valuation of Rs 14,487.99 crore and Vedanta Iron And Steel's mcap was Rs 8,231.37 crore.
All these firms got listed on the NSE also.
Vedanta Aluminium Metal started trading at Rs 522, Vedanta Power listed at Rs 41.80, Vedanta Oil and Gas at Rs 38 and Vedanta Iron and Steel at Rs 20 on the NSE.
Vedanta's demerger was approved by the National Company Law Tribunal in December last year.
Under the 1:1 approved demerger scheme, shareholders will receive one share of each demerged company for every one share held in the currently listed Vedanta Ltd.
Vedanta had earlier said that the demerger will help in simplifying Vedanta's corporate structure with sector-focussed independent businesses and provide opportunities to global investors, including sovereign wealth funds, retail investors and strategic investors, with direct investment opportunities in dedicated pure-play companies linked to India's remarkable growth story through Vedanta's world-class assets.
It will also provide a platform for individual units to pursue strategic agendas more freely and better align with customers, investment cycles and end markets, the firm had said.