July 14, 2024

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Vedanta Resources promoters launch open offer for 10{79e59ee6e2f5cf570628ed7ac4055bef3419265de010b59461d891d43fac5627} of India unit

Vedanta Assets launched an open up provide for a 10{79e59ee6e2f5cf570628ed7ac4055bef3419265de010b59461d891d43fac5627} stake in its India unit, two months just after a failed delisting attempt for Vedanta Ltd.

The London-dependent dad or mum of Mumbai-shown Vedanta Ltd. will invest in as many as 371.75 million shares, comprising 10{79e59ee6e2f5cf570628ed7ac4055bef3419265de010b59461d891d43fac5627} of the fantastic fairness of the Indian unit, according to an exchange filing Saturday.

The open up provide, which will be managed by JPMorgan Chase & Co.’s India unit, will be a voluntary open up provide, with no least amount of acceptance by Vedanta, according to the filing. If Vedanta Ltd. holders were to accept share tenders for the total 10{79e59ee6e2f5cf570628ed7ac4055bef3419265de010b59461d891d43fac5627}, the thought for the offer would be Rs five,948 crore ($812 million).

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