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

The promoter group companies have a purchase offer size of up to 4.57 percent of total shares outstanding as of Sep-30, 2021

Vedanta  | Vedanta Limited | Promoter stake

BS Reporters 

A bird flies past the logo of Vedanta installed on the facade of its headquarters in Mumbai | Photo: Reuters

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

The promoter group 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.

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First Published: Mon, November 22 2021. 22:01 IST