Vedanta demerger: Citi sees value as 5-way split approaches, debt stays in check

Vedanta’s plan to split into five listed, pure-play companies is moving closer to execution after tribunal approval, with Citi arguing the demerger could unlock value by narrowing the conglomerate discount. While key approvals and asset transfers are still pending, the brokerage says parent-level debt remains manageable and sees upside from aluminium prices, cost efficiencies and volume growth as the breakup advances toward its March 2026 target.