Vedanta Ltd witnessed a significant block trade transaction on the National Stock Exchange (NSE), highlighting institutional or large investor activity in the mining and metals conglomerate's shares.

Transaction Details

The block trade involved substantial volume and value, demonstrating significant market interest in Vedanta's equity shares.

Block Trade Significance

Block trades represent large-volume transactions that are typically executed by institutional investors, mutual funds, or other significant market participants. These transactions are often conducted through special trading mechanisms to minimize the impact on regular market trading and price discovery.

The execution price of ₹625.20 per share reflects the negotiated value between the buyer and seller for this substantial equity transaction. Such trades often indicate strategic positioning by institutional investors or portfolio rebalancing activities.

Market Implications

The ₹18.65 crore transaction value represents a meaningful equity movement in Vedanta's shares. Block trades of this magnitude typically attract market attention as they may signal institutional confidence or strategic investment decisions by large market participants.

The transaction demonstrates continued institutional interest in Vedanta's equity, with the substantial volume indicating significant capital deployment in the company's shares through the NSE platform.

Vedanta has received regulatory approval for a major corporate restructuring initiative, with the National Company Law Tribunal (NCLT) Mumbai sanctioning the demerger of its merchant power undertaking to subsidiary Talwandi Sabo Power Limited (TSPL).

NCLT Order and Regulatory Approval

The NCLT Mumbai issued its order on January 09, 2026, granting sanction to the scheme of arrangement under Sections 230-232 of the Companies Act, 2013. The order was uploaded on the NCLT website on January 09, 2026, around 04:30 PM IST. The scheme involves the transfer of Vedanta's merchant power undertaking to TSPL, along with related assets, liabilities, and employees.

The tribunal's approval came after comprehensive regulatory review, with both BSE Limited and National Stock Exchange of India Limited issuing observation letters dated June 03, 2025, stating "no adverse observations" regarding the modified scheme.

Creditor and Stakeholder Approval

The scheme received strong support from stakeholders during meetings held on November 21, 2025. The approval rates demonstrated overwhelming confidence in the restructuring plan:

Notably, the meeting of equity shareholders was dispensed with by the NCLT as directed in the application order dated October 17, 2025.

Corporate Structure and Rationale

The demerger forms part of Vedanta's comprehensive business reorganization strategy aimed at creating independent, focused entities across different sectors. The company operates diverse businesses including metals, mining, natural resource exploration, and power generation, each with distinct risk profiles and growth potential.

Key benefits outlined in the scheme include:

• Creation of independent companies focusing exclusively on specific sectors
• Enhanced management focus enabling exploration of new opportunities
• Attraction of different investor sets and strategic partners for each business
• Improved capital market access for debt and equity financing
• Value unlocking for shareholders through focused business entities

Financial Impact and Share Capital Structure

As of June 30, 2025, Vedanta's share capital structure comprised:

TSPL's share capital structure as of the same date showed:

The scheme maintains a share entitlement ratio of 1:1, as determined by BDO Valuation Agency LLP's reports dated September 29, 2023.

Asset Transfer and Employee Protection

Under the approved scheme, all assets and liabilities pertaining to the merchant power undertaking will transfer to TSPL on a going concern basis. The arrangement includes comprehensive employee protection measures, ensuring all personnel engaged in the power undertaking become TSPL employees on terms no less favorable than their current conditions, with service continuity and retirement benefit preservation.

The independent auditor's certificate dated November 27, 2025, confirmed that assets being transferred exceed liabilities, providing additional security for creditors. Post-demerger projections indicate TSPL's net worth will increase from ₹3,606.00 crores to ₹8,207.00 crores.

Implementation Timeline and Compliance

The NCLT order requires TSPL to file the certified order with the Registrar of Companies within 30 days of receipt, using e-Form INC-28. The company must also submit the order to all applicable statutory authorities and lodge it with the Superintendent of Stamps for stamp duty adjudication within 60 working days.

The scheme includes provisions for compliance with accounting standards AS-14 or IND-AS 103, ensuring proper accounting treatment of the demerger transaction. All regulatory authorities retain their powers to take appropriate action under applicable laws, with the NCLT approval not deterring such regulatory oversight.

Source: NCLT Order dated January 09, 2026