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.

The demerger is expected to enable greater focus of the Vedanta management on the relevant businesses thereby allowing further streamlining of operations and more efficient usage of assets and leveraging of opportunities.

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.

The demerger seeks to establish five independent, globally scaled companies specializing in aluminium, iron ore, copper, oil and gas, and power generation. This restructuring aims to streamline operations,

Vedanta Ltd. shareholders and creditors have approved the demerger of the company into five independent, sector-specific companies. The demerger will create five independent companies focused on mining,

Vedanta Ltd.’s creditors will meet Tuesday to give their final verdict on a plan to split the Indian mining conglomerate into at least five different businesses, a key step in a months-long effort to simplify the group’s structure and help manage its debt burden.