Vedanta Receives NCLT Nod to Acquire Incab Industries for Rs 545 Crore

Vedanta Limited has received approval from the National Company Law Tribunal (NCLT), Kolkata, for its resolution plan to acquire Incab Industries Limited as part of the ongoing Corporate Insolvency Resolution Process (CIRP). The order was uploaded on the tribunal’s website on December 3, 2025.

The acquisition marks Vedanta’s strategic entry into the downstream copper and aluminium value chain through Incab, a long-established manufacturer of power cables and industrial wires. The company operates from Kolkata and owns manufacturing facilities in Jamshedpur and Pune, although the units are currently non-operational.

Expansion Into Value-Added Metals Business

Incab’s operations primarily utilise copper and aluminium—two commodities where Vedanta holds strong upstream capabilities. With this acquisition, Vedanta aims to integrate further downstream, strengthening its presence in sectors such as power transmission, infrastructure, and industrial electrification.

The Pune manufacturing unit, located approximately 300 km from Vedanta’s Silvassa copper plant, is expected to provide logistical synergies. Vedanta plans to invest in capital expenditure and working capital to restart and scale up the facilities.

Acquisition Details

Vedanta will acquire 100% shareholding and full management control of Incab Industries.
Key financial and operational aspects include:

• Acquisition Cost: ₹545 crore, to be paid upfront from internal accruals

• Mode of Acquisition: Cash consideration under the approved resolution plan

• Expected Completion: Within 90 days of the NCLT’s approval

• Industry: Power cable manufacturing and industrial wire production

Incab’s production capabilities include power cables, rubber and plastic cables, fibre optic cables, winding wires, and copper/aluminium rods. Restarting operations would place Vedanta in a stronger position to supply to India’s expanding power and infrastructure sectors.

Insolvency Background

Incab was admitted into insolvency on August 7, 2019. The Committee of Creditors approved Vedanta’s resolution plan on June 23, 2022. Following deliberations and legal proceedings, NCLT Kolkata granted its approval on December 3, 2025, clearing the way for Vedanta to take over.

The acquisition is expected to support Vedanta's broader strategy of building an integrated metals-to-manufacturing ecosystem and expanding its footprint in high-demand downstream industries.