Vedanta Demerger: Citi, Investec See Major Upside Post NCLT Nod

• NCLT approves Vedanta's demerger, boosting confidence from brokerage houses Citi and Investec.
• Both Citi and Investec issue 'Buy' calls on Vedanta, citing significant upside potential with targets of ₹585 and ₹635 respectively.
• Demerger aims to unlock value by reducing the 'conglomerate discount' and allowing separate businesses to trade at attractive valuations.
• Vedanta targets completing the demerger process by March 2026, despite some pending approvals for the Power business.
• Separate listing will enable each business to have its own capital structure, aiding deleveraging and better balance sheet management.

Why It Matters: Vedanta's demerger, backed by broker 'Buy' calls, signals significant long-term value creation.