Promoter Westglobe exits company; sells 4.43 crore Vedanta shares

Vedanta Holdings Mauritius, the promoter of Vedanta Limited, Mauritius on Friday bought 4.43 crore shares from another promotor company Westglobe Limited at Rs 340 per share. The total stake buy is worth Rs 1,509.4 crore for Vedanta Holdings Mauritius and it paves an exit route for Westglobe.

Westglobe held 1.19 percent stake in Vedanta which upon selling entirely to Vedanta Holdings Mauritius, takes the latter’s holding to 4.08 percent from 2.89 percent as on 30 September, 2021.

In November, Vedanta Limited's other promotors Twin Star Holdings Limited and Vedanta Netherlands Investments B.V. bought 13.86 crore shares of the company at Rs 349.7 per share. This had totalled to a stake buy worth Rs 4,846 crore. With this, in total, the promoters bought 3.7 percent stake in the company as Twin Star Holdings Limited bought 2.36 percent, while Vedanta Netherlands Investments purchased 1.35 percent.