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Wednesday, January 20, 2021
Home Business Vedanta Slips Over 3% On Open Offer Announcement

Vedanta Slips Over 3% On Open Offer Announcement


The provide value at Rs 160 per share is at a reduction of 12 per cent to Friday’s closing value

Vedanta shares dipped greater than 3 per cent in an in any other case sturdy market on Monday after the promoter group introduced an open provide to purchase 10 per cent stake within the firm at a value of Rs 160 per share. The shares of Vedanta touched an intra-day low of Rs 175.35, down 3.6 per cent, on the BSE on the again of the open provide announcement and at 11:15 am, the shares have been buying and selling at Rs 177.25, down 2.6 per cent.

Vedanta Assets, along with Twin Star Holdings, Vedanta Holdings Mauritius and Vedanta Holdings Mauritius II (the promoter group & particular person appearing in concern), will purchase as much as 371.75 million fairness shares of Vedanta, representing 10 per cent of absolutely diluted voting share capital of Vedanta, from the general public shareholders.

Vedanta stated that it will come out with an in depth public assertion and letter of provide by January 15, 2021.

The provide value at Rs 160 per share is at a reduction of 12 per cent to Friday’s closing value of Rs 182.05.

The BSE Sensex was buying and selling at 49,089.71, larger by 309.70 factors or 0.63 per cent and the NSE Nifty was at 14,425.55, up 76.65 factors or 0.53 per cent on the time.

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