The shares of Vedanta Power rose 4% on Wednesday, after falling for two consecutive days following their much-awaited market debut after the mega demerger on Monday.

Vedanta Power debuted at Rs 41.80 per share on the NSE on Monday. The shares of the company fell 2% on the first day, and another 2% on Tuesday.

The shares of Vedanta Power jumped around 4% today to trade at Rs 42 apiece on the NSE, crossing its listing price. The company’s market capitalisation currently stands at more than Rs 16,126 crore.

Also read: Vedanta Power shares list at Rs 42 as mega demerger concludes

About Vedanta Power

Vedanta Power has more than 4 GW of installed capacity in four strategic assets in Punjab, Andhra Pradesh, Chhattisgarh and Odisha. It has several long-term and mid-term Power Purchase Agreements (PPAs) with state utilities.

The power company aims to become one of India’s top three private thermal power players by FY33 through a combination of organic expansion and asset turnarounds. Its portfolio comprises Vedanta Power Talwandi Sabo Thermal Plant in Punjab (1,980 MW), Vedanta Power Meenakshi Energy in Andhra Pradesh (1,000 MW), Vedanta Power Sakti in Chhattisgarh (600 MW operational with another 600 MW under commissioning), and Vedanta Power Jharsuguda Thermal Plant in Odisha (600 MW).

Also read: Vedanta Aluminium vs Vedanta Power; which can give investors better wealth in Rs 2 lakh crore demerger play

About Vedanta demerger

The Anil Agarwal-led conglomerate announced in April that each of its eligible shareholders will get one share in each of the four companies, namely Vedanta Aluminium, Vedanta Power, Vedanta Oil & Gas and Vedanta Iron & Steel, for every share held in Vedanta held on record date, marking one of the biggest corporate restructurings in India’s metals and mining space.

Vedanta had set May 1 as the record date for the much-awaited demerger. According to exchange notices, Vedanta Oil & Gas, Vedanta Power, Vedanta Aluminium Metal and Vedanta Iron & Steel, which made their much-awaited market debut on Monday, were initially placed in the Trade-to-Trade (T2T) segment, where every transaction results in compulsory delivery.

Also read: 4 new Vedanta Group stocks debut on Dalal Street. What's ahead?