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 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.

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.