Reviewed by the editorial team · Updated 5 Nov 2026 · Last verified 5 Nov 2026 · 1 min read
Quick answer
Vedanta began as a scrap metal business in 1976. It bought BALCO and Hindustan Zinc from the government, listed in London in 2003 and split into five companies in 2026 10114.
Founded1976, Mumbai (then Bombay)
StatusListed
Listed onBSE, NSE (Vedanta Limited): VEDL (NSE), 500295 (BSE)
1976-2000: from scrap to copper
Anil Agarwal started a scrap metal business in Bombay in 1976 10. Wikipedia's Vedanta Resources entry says he acquired Shamsher Sterling in 1979 and renamed it Sterlite, while his own entry dates the founding of Sterlite Industries to 1986 102.
2001-2003: privatisation deals
In 2001 the group bought a majority stake in state-owned BALCO 10. In April 2002 the government sold it 26% of Hindustan Zinc with management control; an open offer and a call option took its stake to 64.92% by August 2003 11. In 2003 Vedanta Resources listed in London, raising $876 million 10.
2007-2011: growth by acquisition
Vedanta bought 51% of the iron ore miner Sesa Goa and listed in New York in 2007, bought Anglo American's zinc assets in 2010 and took 58.5% of Cairn India in 2011 10.
2018: setbacks and delisting
In May 2018, 13 protesters were killed in police firing at Thoothukudi and the Sterlite copper smelter was shut 12. In June 2018 the group bought 90% of Electrosteel Steels, and on 1 October 2018 Vedanta Resources was taken private 10.
2023-2026: the demerger
Foxconn pulled out of a $19.5 billion chip joint venture with Vedanta in July 2023 13. Vedanta announced its demerger plan in September 2023; it was approved by the tribunal in December 2025, took effect on 1 May 2026 and the new companies listed on 15 June 2026 1415. In July 2026 the board approved a further demerger of its real estate into Vedanta Property Platforms 16.
Frequently asked questions
Anil Agarwal started the business as a scrap metal dealer in Bombay in 1976.
It took effect on 1 May 2026, and the four new companies listed on 15 June 2026.
