InvestorQ : How many shares did Anil Agarwal manage to buy during the week as part of its open offer plan to ramp up its holding in Vedanta Ltd?
vidhya Laxmi made post

How many shares did Anil Agarwal manage to buy during the week as part of its open offer plan to ramp up its holding in Vedanta Ltd?

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Dilmini Mercia answered.
4 weeks ago
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Vedanta Resources, which is Anil Agarwal floated promoter entity, reported that it had purchased a total of 18.5 crore shares of Vedanta Ltd representing 4.98% stake at an investment of Rs.2959 crore. SEBI regulations permit promoters holding between 25% and 75% to buy up to 5% each year under the creeping acquisition mode without open offer.

Post this purchase on Thursday Vedanta Resources has hiked its stake in Vedanta Ltd from 50.13% to 55.11%. Vedanta Holdings Mauritius, a subsidiary of Vedanta Resources, bought the full lot of 18.5 crore shares of Vedanta Ltd from institutional investors at a price of Rs.159.91 per share. However, full details of the sellers were not disclosed.

This move came after Anil Agarwal’s plan to buy out the entire outstanding stock of Vedanta at Rs.87.50 and delist from the Indian exchanges, did not work out. Vedanta is also one of the top contenders the government’s BPCL stake.

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