New Delhi, Oct 3 (PTI) Shares of Vedanta Ltd climbed 5 per cent on Tuesday after announcement of a major business shake-up.

The stock jumped 4.98 per cent to Rs 233.60 on the BSE.

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At the NSE, it climbed 5 per cent to Rs 233.75.

Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load.

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Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement.

The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.

On Friday, the board of Vedanta approved the "demerger of business units into independent 'pure play' companies to unlock value and attract big-ticket investment into expansion and growth of each" of them.

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