 "Promoter entity Twin Star pares 4.1% stake in Vedanta for Rs 3,983 cr")
Billionaire Anil Agarwal-promoted Twin Star Holdings on Thursday divested a 4.1 per cent stake in conglomerate Vedanta Ltd for Rs 3,983 crore through an open market transaction.
Following the stake sale, shares of Vedanta tumbled 6.71 per cent to close at Rs 253.90 apiece on the NSE.
According to the bulk deal data available with the National Stock Exchange (NSE), Twin Star Holdings Ltd offloaded more than 15.40 crore shares, amounting to a 4.14 per cent stake of Vedanta Ltd.
The shares were sold at an average price of Rs 258.55 apiece, taking the aggregate transaction value to Rs 3,983.10 crore.
Meanwhile, Copthall Mauritius Investment acquired nearly 8.49 crore equity shares in two tranches and Societe Generale bought more than 2.94 crore shares, amounting to 2.2 per cent and 0.79 per cent, respectively, stake in Vedanta.
The shares were purchased at an average price of Rs 258.50 per piece. This took the combined deal size to Rs 2,955 crore.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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