Vedanta to exclude base metals business from sweeping demerger

Indian miner Vedanta will not carve out a separate listed unit for its base metals business, it said on Friday, after discussing the matter with its stakeholders and lenders.

Vedanta, led by billionaire Anil Agarwal, had last year launched a sweeping overhaul to carve itself up into six separate businesses, in a move aimed at shoring up the group's financial performance.

The company will consider the base metals business demerger at a later stage, it said in an exchange filing, adding that the share entitlement ratio for the demerger of the remaining five businesses would remain unchanged.