Vedanta Resources' revised open offer price of Rs 235 per share for its Indian unit is a better deal for investors than the earlier offer price, brokerage firm Edelweiss said on Wednesday.
Vedanta Resources and persons acting in concert with it (promoter group) on Tuesday increased the offer size and price for the voluntary open offer for Vedanta Ltd to Rs 235 per share for 65.1 crore shares (17.5 per cent of total equity share base) from the previous Rs 160 for 37.17 crore shares (10 per cent).
"The revised offer represents a 4 per cent premium to the current market price (CMP), a better deal for investors than the earlier offer price that implied a discount of 13 per cent to the CMP then, Edelweiss said.