Vedanta promoters make open offer for up to 37.2 crore shares at Rs 160 per share-March 2024-www.financetom.com

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Vedanta promoters make open offer for up to 37.2 crore shares at Rs 160 per share

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Vedanta promoters make open offer for up to 37.2 crore shares at Rs 160 per share

Jan 9, 2021 11:40 AM

The promoters of Vedanta Ltd on Saturday announced an open offer to acquire 37.2 crore equity shares, representing 10 percent equity stake in the company, at Rs 160 per share.

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The offer is made at a 12 percent discount to the current market price of Rs 178.85.

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.

These promoters hold 42.09 percent stake in the company and after the proposed offer, their stake will increase to 52.09 percent.

JP Morgan India Private Limited is acting as the Manager to the Open Offer, the company said in a regulatory filing.

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