Vedanta promoters make an open offer for up to 37.2 crore shares at Rs 160 per share – Moneycontrol.com

The promoters made an open offer for up to 37.2 crore shares (10 percent equity) at Rs 160 per share, which is over a 12 percent discount to the current market price.

Promoters of mining conglomerate Vedanta have made an open offer for up to 37.2 crore shares.

According to CNBCTV18 reports, the promoters made an open offer for up to 37.2 crore shares (10 percent equity) at Rs 160 per share, which is over a 12 percent discount to the current market price.

On January 6, in a blow to Vedanta, a Zambian court ruled the state-appointed liquidator of Vedanta’s Konkola Copper Mines will not be discharged despite a November ruling ordering a halt to proceedings to allow Vedanta and minority KCM shareholder ZCCM-IH to pursue arbitration.

Vedanta Resources on December 10, sold $1 billion of securities at one of the highest yields for a dollar bond in Asia in 2020. The mining conglomerate said it was planning to use the money to finance a buyback offer for $670 million of notes maturing in June 2021.

Moneycontrol News

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