The transaction involved sale of 6.55 crore shares at an average price of Rs 265.14 per share. The sale reportedly is part of a larger Rs 8.2-crore share deal involving other buyers and sellers.
Vedanta's parent may sell $1 billion worth shares to GQG deccanherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from deccanherald.com Daily Mail and Mail on Sunday newspapers.
The final talks for a potential stake sale have already taken place, and the transaction may take place in a few days in the form of a block deal, the news channel reported. As of December-end, promoter and group entities cumulatively held a 63.71% stake in Vedanta Ltd. On Wednesday, shares of Vedanta ended nearly 5% higher on the National Stock Exchange at Rs 282.55
The conglomerate’s finances have drawn close scrutiny ever since Hindenburg Research accused it of fraud and stock manipulation, claims Adani has repeatedly denied. The bombshell report triggered a rout in the group’s shares and bonds, suggesting it would have to pay dearly when next raising capital.