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Vedanta Demerger: Vedanta's much-anticipated demerger is set to go through tomorrow, 30 April, as the metal and mining major will reflect ex-spun off pricing.

While Vedanta's demerger record date was set as 1 May, the special discovery session in the Anil Agarwal-led company will take place a day ago, as both BSE and NSE are shut on Friday for Maharashtra Day.

Thus, today was the last day to purchase Vedanta shares to enjoy demerger benefits. Vedanta will separate four of its businesses, which will be listed as separate entities. Each shareholder will get 1:1 for each demerged entity

Vedanta will have a price discovery session from 9:15 to 9:45 am tomorrow, 30 April, and normal trading will start from 10:00 AM at the ex-demerged price.

"The Special Pre-Open Session on April 30 is the moment Vedanta's three-year-old demerger story finally meets the market's price-discovery machinery," said Harshal Dasani, Business Head at INVasset PMS.

According to analysts, the demerged price for Vedanta shares could be around ₹300 apiece. The residual Vedanta Ltd is likely to open in the ₹300–325 band, anchored largely by its 63.4% stake in Hindustan Zinc, copper, ferro chrome and the emerging displays venture, estimates Dasani.

He expects the remaining roughly ₹400–475 of pre-demerger value transfers into the four spun-off entities — Aluminium, Power, Oil & Gas, and Iron & Steel — that shareholders will hold as 1:1 entitlements pending listing over the next four to eight weeks.

Vedanta shares closed at ₹773.60 on the NSE today.

Meanwhile, Sunny Agrawal, Head of Fundamental Research at SBI Securities, expects the fair value for Vedanta shares to be ₹291. For Vedanta Aluminium Metal, it's ₹489, Vedanta Power ₹44, Vedanta Oil and Gas ₹42 and Vedanta Iron and Steel ₹19, suggesting a higher total fair value of ₹885 for the metals company.

According to Dasani, aluminium is clearly the crown jewel for Vedanta, with a 2.8 MTPA capacity, expanding EBITDA per tonne, and a tight global supply, making it the most likely beneficiary of pure-play re-rating.

"Together with Hindustan Zinc, it should command the bulk of group value once the conglomerate discount unwinds," he added.

Going ahead, analysts expect some pressure post-listing. This may occur as a few active funds may choose not to continue investing in certain businesses. Investing post-demerger carries slightly higher risk but also offers potentially higher returns from a medium- to long-term perspective, according to Aggarwal.

Meanwhile, Dasani said that two variables will determine whether the SOTP of ₹820–900 actually crystallises for Vedanta — the final allocation of net debt across the five entities, and the speed of regulatory clearances for listing. "For long-term investors, this is a value-unlocking event, not a trading event. Position for the listings, not the open," he said.

Vedanta shares have surged 29% on a year-to-date (YTD) basis. Meanwhile, in a year, the stock has surged 86%.

Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.Saloni Goel has over nine years of experience as a business journalist, with a strong track record of covering the financial markets. Over the course of her career, she has reported extensively on global and domestic equities, IPO market activity, commodities, and broader macroeconomic trends. Her reporting reflects a keen eye for detail, data-driven analysis, and the ability to spot emerging themes early.

At Mint, Saloni has been part of the markets team for nearly two years, where she currently works as Chief Content Producer. In this role, she plays a key part in shaping market coverage, driving editorial strategy, and ensuring timely, accurate, and insightful reporting across. She has been closely involved in breaking news coverage and in crafting stories that help decode the complex financial developments.

Before joining Mint, Saloni worked with some of India’s leading business newsrooms, including The Economic Times and Business Standard. Throughout her career, she has worn multiple hats—ranging from reporting and editing to contributing in-depth features and identifying new storytelling formats and market trends.

Her experience in fast-paced digital newsrooms has given her an edge in simplifying complex market concepts without losing analytical depth. Outside of work, Saloni enjoys reading books and spending time with her pet.

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