Vedanta to Acquire Incab Industries for Rs 545 Cr, Receives NCLT Approval
Vedanta Limited has received the approval of the National Company Law Tribunal (NCLT) for acquiring Incab Industries Limited for Rs. 545 crore. This information was shared by Vedanta Limited in its stock filing dated 3rd December 2025.
This acquisition is expected to be completed within 90 days of NCLT’s approval, that is by 3rd March 2026. After completion of this acquisition, Vedanta will have 100% ownership of Incab Industries.
Background of Incab’s Insolvency Proceedings
Incab Industries was admitted into the Corporate Insolvency Resolution Process (CIRP) through an order issued by NCLT dated 7th August 2019. The company entered insolvency proceedings due to prolonged financial distress, starting with continuous losses in the mid-1990s that eventually forced the company to cease operations entirely around the turn of the century.
By the time Incab Industries entered the Insolvency Resolution Process in August 2019, Incab had admitted dues of Rs. 3,343 crore from various creditors, including ICICI Bank and LIC.
The Committee of Creditors (“CoC”) approved Vedanta’s Resolution Plan on 23rd June 2022. Thereafter, the matter was pending at NCLT Kolkata, which granted approval on 3rd December 2025.
Assets and Manufacturing Capabilities of Incab Industries
Incab Industries was engaged in the manufacturing of power cables and industrial wires, which use copper and aluminium as key raw materials. The company has manufacturing plants in Jamshedpur and Pune.
Vedanta mentioned in its stock filing, “With key raw materials in power cable and industrial wires manufacturing being Copper and Aluminium, the acquisition brings vertical and downstream synergies for Vedanta”. Incab Industries’ manufacturing plant in Pune is located just 300 km from Vedanta’s Silvassa copper unit.
Incab Industries has a power cables manufacturing capacity of 6,000 km per annum and a winding wire manufacturing capacity of 8,150 Metric Tonnes Per Annum (MTPA). Furthermore, the company has a 12,000 Tonne Per Annum (TPA) manufacturing capacity of Rod Mill Copper, 3,960 TPA of aluminium rods, and 5,580 TPA of wire mill.
Vedanta’s Ongoing Operations and Expansion in India
Vedanta is majorly investing in expanding its aluminium and metals footprint, primarily in Odisha. The company is developing a new 6 Million Metric Tonnes Per Annum (MMTPA) alumina refinery, an aluminium smelter with a capacity of 3 MMTPA, and two aluminium parks to boost downstream capacity. The company is also developing a ferro-alloys plant with an investment of Rs. 2,000 crore.
About Vedanta Ltd.: Vedanta Ltd. is a Mumbai-headquartered Indian mining and minerals company. Vedanta’s revenue from operations during FY25 stood at Rs. 1,50,725 crore, and the company reported a profit of Rs. 20,535 crore. Vedanta’s total workforce is around 97,000+ employees.
