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Vedanta promoters float open offer for 10% stake at Rs 160 per share

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.

Open offer for Vedanta Ltd

Promoters of Vedanta make an open offer for up to 37 2 cr shares at ₹160/share

Promoters of Vedanta make an open offer for up to 37.2 cr shares at ₹160/share (Photo; Reuters)Premium Share Via Read Full Story 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. TRENDING STORIESSee All 2 min read Premium 1 min read Premium 2 min read Premium 3 min read 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.

वेदांता 37 2 करोड़ शेयरों के लिए लाएगी ओपन आफर, बाजार भाव से 12% कम दाम पर खरीदेगी शेयर Promoters of Vedanta open offer for up to 37 2 cr shares at ₹160 per share

वेदांता 37 2 करोड़ शेयरों के लिए लाएगी ओपन आफर, बाजार भाव से 12% कम दाम पर खरीदेगी शेयर Promoters of Vedanta open offer for up to 37 2 cr shares at ₹160 per share
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Vedanta raises USD 1 4 billion to retire debt

Vedanta raises USD 1.4 billion to retire debt Vedanta raises USD 1.4 billion to retire debt Promoters of Vedanta Ltd have pledged their holding in the company to raise USD 1.4 billion, mostly for repaying the debt that was coming up for maturity. In a stock exchange filing, Vedanta said its promoters raised USD 1 billion debt by issuing equivalent notes to Citicorp International Ltd. Separately, a unit of Vedanta Resources will issue USD 400 million in notes to an entity under Oaktree Capital Group. The notes in both cases will be partly secured by shares in Mumbai-listed unit Vedanta Ltd. The funds raised from Citicorp will be used to fund the tender offer for any and all of Vedanta Resources Limited s (VRL) outstanding USD 900 million 8.25 per cent bonds due 2021, the company said in the filing.

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