Vedanta’s Aluminium arm introduced its first-ever ecommerce venture, ‘Metal Bazaar’, aimed at facilitating the sale of its diverse product range within the metal segment. The platform offers over 750 product variants at launch and will feature AI-based price discovery to tackle value discrepancies arising from fluctuating commodity prices.
John Slaven, CEO, Vedanta Aluminium said, “As one of the fastest growing economies in the world, aluminium is essential to India’s continued rise. Vedanta Aluminium’s this venture offers a world-class experience to a rapidly progressing nation, democratising access to top-quality aluminium by making it readily available to all sections.”
Last year, the Vedanta Group had announced plans to undergo a demerger, dividing its conglomerate into six separate listed companies. Slaven indicated that the demerger is expected to occur within the next 9-12 months, attributing the vast value and diverse operations of the company as the rationale behind the delay.
As per the company statement, the stock exchange has already issued the NOC for the demerger to SEBI. The company is presently in discussions with creditors regarding debt allocations. Upon obtaining SEBI’s NOC, the scheme will be forwarded to the NCLT to seek an order for organising members’ and creditors’ meetings.