Promoters To Acquire 10% Stake In Vedanta: Should Investors Tender Shares In Open Offer? moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
Vedanta promoters make open offer to buy up to 10% stake
January 11, 2021
×
At ₹160 a share, the company would spend ₹5,948 crore, if the open offer is fully accepted.
After making a failed attempt to delist, billionaire Anil Agarwal-owned Vedanta Resources along with Twin Star Holdings, Vedanta Holdings Mauritius and Vedanta Holdings Mauritius II has made a fresh open offer to acquire 37.17 crore equity shares representing 10 per cent of its group company Vedanta at ₹160 a share.
The company would spend ₹5,948 crore, if the open offer fully is successfully accepted.
The open offer price announced by the company is lower than the closing price of ₹182 on Friday.
Vedanta shares surge over 13% on large trades
Updated : December 24, 2020 12:28 PM IST
19.1 crore shares (5.1 percent equity) worth Rs 3,042 crore changed hands via block deals on the BSE and NSE.
The stock rose as much as 13.3 percent to the day s high of Rs 170.5 per share on the BSE. share
The share price of Vedanta surged over 13 percent on Thursday after 19.1 crore shares (5.1 percent equity) worth Rs 3,042 crore changed hands via block deals on the BSE and NSE.
The stock rose as much as 13.3 percent to the day s high of Rs 170.5 per share on the BSE. Just in two trading sessions, the stock has risen nearly 20 percent.