Promoters looking to up stake in Vedanta Ltd by upto 4.57%

Promoters of Vedanta Limited, Twin Star Holdings Limited and Vedanta Netherlands Investments B.V. are looking to purchase upto 170 million equity shares of Vedanta Limited at an indicative price of Rs 350 per share, valued at Rs 5,950 crore.

The promoter group companies have a purchase offer size of up to 4.57 percent of total shares outstanding as of Sep-30, 2021. J.P. Morgan India Private Limited is acting as the broker to purchasers Twin Star Holdings Limited and Vedanta Netherlands Investments B.V.

The purchase offer type is an accelerated bookbuild purchase of equity shares. Shares of Vedanta closed at Rs 328.55 on the BSE on Monday.