Vedanta Ltd has received a go-ahead from its shareholders and creditors for its proposed plan to demerge into five sector-specific units, each dedicated to aluminium (Vedanta Aluminium), crude oil (Vedanta Oil & Gas), power (Vedanta Power), ferrous products (Vedanta Iron and Steel) and silver and zinc (through itself, Vedanta Ltd, and HZL).

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.