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Vedanta, Cairn India finish merger to form $15.6-bn market cap entity

Cairn Energy will have a 5% holding in Vedanta after the merger of Cairn India

Shine Jacob  |  New Delhi 

Consolidating Vedanta’s position as one of the world’s largest diversified natural resources companies, Vedanta and Cairn India have completed their merger process on Tuesday.   The merged entity will have a market capitalisation of $15.6 billion, and higher free float — outstanding shares available in the public sphere — of 49.9 per cent. "Vedanta will have one of the strongest balance sheets in the Indian corporate sector with flexibility to balance capital allocation to the highest return projects while providing a strong and stable ...

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First Published: Wed, April 12 2017. 02:05 IST
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