NEW DELHI: Vedanta’s board has sanctioned a draft scheme to demerge its real estate segment into Vedanta Property Platforms, as stated in a BSE filing.
This proposed demerger, to be conducted on a going concern basis, aims to unlock value from Vedanta’s surplus real estate assets throughout India.
The demerger is structured as a vertical split, where shareholders will receive one share of Vedanta Property Platforms for every 20 shares they hold in Vedanta.
The surplus real estate portfolio set for demerger covers approximately 2,200 acres of industrial land and around 55,000 square feet of residential and commercial properties.
According to the company’s presentation, the portfolio comprises 22 assets situated across India, totaling about 2,264 acres of land from 14 parcels, and approximately 53,185 square feet of residential and office space across eight units.
The real estate portfolio consists of land parcels and developed properties in Gujarat, Maharashtra, Goa, Karnataka, and Tamil Nadu.
Maharashtra includes three land parcels, one building, and five apartments, with assets located in Mumbai, Lonavala, Sanaswadi (Pune), and Ratnagiri. Goa features five assets, such as land parcels in Sanquelim and Chicalim, along with bungalows in Panjim.
Tamil Nadu contains six land parcels spanning Mettur, Yercaud, Pooval, and Tuticorin, alongside one land parcel each in Gujarat and Karnataka.
Vedanta asserts that this demerger will lead to enhanced management focus, greater transparency, and a more efficient use of the real estate portfolio.
The new platform will prioritize the development, construction, redevelopment, operation, management, leasing, and licensing of various properties, including residential, commercial, retail, industrial, hospitality, mixed-use, and infrastructure-related developments.
