The company s promoter Anil Agarwal had pledged the mining company s stake from 2020 onwards in a bid to raise funds. According to the filing, the promoters had pledged 63.71% of shares
Updated Jan 09, 2021 | 21:10 IST
Vedanta s promoters on Saturday announced an open offer for up to 37.2 cr shares of the company at Rs 160 per share, which amounts to 12% discount to the current market price Promoters of Vedanta open offer of 10% equity at a price of Rs160/ share for up to 37.2 crore shares
New Delhi: Vedanta s promoters on Saturday announced an open offer for up to 37.2 cr shares of the company at Rs 160 per share, which amounts to a 12% discount to the current market price.
The promoter group acquiring the shares include Vedanta Resources Limited together with Twin Star Holdings Limited, Vedanta Holdings Mauritius Limited and Vedanta Holdings Mauritius II Limited.
Vedanta promoters float open offer for 10% stake at Rs 160 per share
Vedanta promoters are offering Rs 160 per share under the open offer, which is at a 12 per cent discount as compared to the current market price of Rs 178.85
BusinessToday.In | January 9, 2021 | Updated 22:45 IST
The promoters of Vedanta Limited have announced a voluntary open offer to acquire around 37.2 lakh equity shares of the company from public shareholders. This represents 10 per cent of entire equity stake of the company.
The promoter group that has floated the open offer includes Vedanta Resources Limited together with Twin Star Holdings Limited, Vedanta Holdings Mauritius Limited and Vedanta Holdings Mauritius II Limited.
Promoters of Vedanta make an open offer for up to 37.2 cr shares at ₹160/share
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New Delhi:Vedanta Ltd s promoters on Saturday announced an open offer for up to 37.2 cr shares of the company at ₹160 per share, which amounts to 12% discount to current market price.
The current open offer represents 10% equity stake in the company.
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On Friday, the company s stock on NSE closed 3.5% lower at ₹178.85.
The company s attempt for delisting failed in October 2020.
The open offer, which will be managed by JPMorgan Chase & Co.’s India unit, will be a voluntary open offer, with no minimum level of acceptance by Vedanta, according to the filing. If Vedanta Ltd. holders were to accept share tenders for the entire 10%, the consideration for the deal would be ₹5,948 crore.