The four entities created through Vedanta Ltd's demerger are set to make their stock market debut on Monday (June 15). Earlier in April, the Anil Agarwal-led conglomerate said that eligible shareholders would receive one share each of Vedanta Aluminium Metal Ltd (VAML), Vedanta Power Ltd (formerly Talwandi Sabo Power Ltd), Vedanta Oil & Gas Ltd (formerly Malco Energy Ltd) and Vedanta Iron & Steel Ltd for every Vedanta share held. The restructuring represents one of the largest demerger exercises undertaken in India's metals and mining industry.

Vedanta had fixed May 1 as the record date for the demerger. While Vedanta shares have continued to trade, the value attributable to the newly demerged entities has remained undiscovered in the market since investors have been unable to trade those shares until listing. Vedanta's stock price had already adjusted following the demerger.

According to exchange notices, Vedanta Oil & Gas, Vedanta Power, Vedanta Aluminium Metal and Vedanta Iron & Steel will make their stock market debut on Monday. The shares will initially be placed in the Trade-to-Trade (T2T) segment, where all trades result in compulsory delivery.

Which stock could attract investor interest?

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said investors may consider evaluating Vedanta Aluminium Metal following its proposed listing, citing the company's ongoing aluminium capacity expansion and supportive trends in LME aluminium prices as key factors.

Meanwhile, Nuvama Institutional Equities said Vedanta's resources portfolio offers scale, diversification and a strong balance sheet, supported by its low-cost, cash-generating zinc-lead-silver business. The brokerage noted that the company benefits from globally competitive zinc production costs due to its captive mines, while future growth is expected to be driven by higher volumes across key businesses such as aluminium and zinc, along with improved cost efficiencies in aluminium operations.

Emkay Global Financial Services said it sees a strong re-rating case for Vedanta Aluminium and Vedanta Power.

The listings on Monday will mark the next phase of Vedanta's restructuring exercise and could provide investors with separate investment avenues across aluminium, power, oil & gas, and iron & steel businesses.