Vedanta Open Offer: Here’s What Brokerages Have To Say – BloombergQuint

Vedanta Resources Plc launched an open offer to acquire a 10% stake in its India unit, a couple of months after a failed delisting.

The parent has offered to buy up to 37.17 crore shares from public shareholders of Vedanta Ltd. at Rs 160 apiece, according to an exchange filing. That’s a 12% discount to Friday’s closing price.

Shares of Vedanta dropped as much as 3.7% to Rs 175.35 apiece in early trade on Monday compared with a 0.81% gain in the Nifty 50.