Vedanta Resources said that it has acquired 37.42 crore shares of Vedanta Limited through the recently concluded voluntary open offer. The acquisition will be completed and consideration to respective shareholders will be paid on or about April 16, the company said in a notice to the stock exchanges. Post the acquisition, promoter's shareholding in Vedanta will increase from the current 55.1 per cent to 65.2 per cent. Vedanta Resources had launched an open offer to buy up to 65.1 crore shares (or 17.5 per cent equity) at ₹235 a share but received bids for only 58 per cent from its shareholders. Shares of Vedanta closed 3.25 per cent up at ₹225.40 on the BSE.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.