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NCLT gives nod to amalgamation scheme of Vedanta’s arm with ESL

05 Feb 2020 Evaluate

The National Company Law Tribunal (NCLT), Kolkata Bench, has approved the scheme of amalgamation of Vedanta’s arm--Vedanta Star with Electrosteel Steels (ESL). Post the amalgamation becoming effective, Vedanta will directly hold 95.48 per cent in ESL.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.

Peers
Company Name CMP
Hindalco Industries 974.10
Vedanta 260.10
Hindustan Zinc 570.00
Jain Resource Recycl 281.85
CMR Green Tech 216.25
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