Indian mining company Vedanta Resources is said to be contemplating a spin-off of several of its interests into five or six firms and a parent company, which would be one of the biggest corporate break-ups of a FTSE 100 to date.

Vedanta will retain a majority stake in all firms, which will have separate stock market listings.

Several London mining bankers have been approached to scrutinise plans for listings, according to UK newspaper The Independent.

It said undisclosed sources said the spin-off firms will help Vedanta simplify its structure and consolidate various minor stakeholdings resulting in easier valuation in the market and higher total value.

Most of the spin-offs’ listings are likely to be in India and Hong Kong with London being a strong contender for some spin-offs listings as well.

In case the conglomerate model is not implemented, the spin-offs will not be safeguarded against fluctuations in prices of commodities.

Vedanta refused to comment on the news.