Shares of Vedanta Group companies Sesa Goa and Sterlite Industries (India) are trading higher by over 5% each ahead of merger of Sterlite Industries into Sea Goa.
Sesa Goa has rallied nearly 7% at Rs 163, while Sterlite up 6% at Rs 92.70 on the Bombay Stock Exchange (BSE).
Vedanta Group said it has fixed August 28, 2013 as the Record date for determining the shareholders to whom the equity shares of Sesa Goa will be allotted as per terms of the scheme.
Every equity shareholder of Sterlite holding 5 equity shares in Sterlite of Re 1 each fully paid up as of the Record Date shall be entitled to be issued 3 shares of face value Re 1 each, at par, credited as fully paid up, of the Sesa Goa.
Meanwhile, Sesa Goa will replace Sterlite Industries in the Sensex from August 27. The move comes in the wake of the scheme of amalgamation between the two Vedanta group firms whereby Sterlite Industries has been merged with Sesa Goa.
Sesa Goa has rallied nearly 7% at Rs 163, while Sterlite up 6% at Rs 92.70 on the Bombay Stock Exchange (BSE).
Vedanta Group said it has fixed August 28, 2013 as the Record date for determining the shareholders to whom the equity shares of Sesa Goa will be allotted as per terms of the scheme.
Every equity shareholder of Sterlite holding 5 equity shares in Sterlite of Re 1 each fully paid up as of the Record Date shall be entitled to be issued 3 shares of face value Re 1 each, at par, credited as fully paid up, of the Sesa Goa.
Meanwhile, Sesa Goa will replace Sterlite Industries in the Sensex from August 27. The move comes in the wake of the scheme of amalgamation between the two Vedanta group firms whereby Sterlite Industries has been merged with Sesa Goa.
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