New Delhi, March 29 -- Natural resources conglomerate Vedanta is set to split into five listed companies early in April, Financial Times reported citing the firm's founder and chairman Anil Agarwal.

According to Agarwal, who revealed Vedanta's plans to FT in a conversation, the move will give the conglomerate and its new units a "free hand to grow".

The new structure would give rise to five separate units in aluminium, zinc, oil and gas, steel, and power, Anil Agarwal noted. Vedanta, which is one of India's largest resources companies with an enterprise value of $37 billion, has been planning to restructure for several years.

The restructure plan comes amid Vendanta's efforts to reduce the debt it has been struggling with for years. Ho...