Nearly all shareholders and creditors gave the nod to the planned demerger to craft four new companies: Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, and Vedanta Iron and Steel. Vedanta Ltd will also house the company's base metals operations.

Vedanta's shareholders and lenders have approved the oils-to-metals conglomerate's plans to split into five separate entities, the company announced on Thursday, with nods from nearly all of its secured and unsecured creditors.

Vedanta Ltd.’s creditors and shareholders approved a long-standing plan to split the Indian mining conglomerate into five businesses, a step that will simplify the group’s structure and reduce its debt burden.