The promoters of Vedanta Ltd announced on Saturday that they would open an open offer for 37.2 crore shares of the company at a discount of Rs 160 per share, ie 12 per cent from the current market price.
- January 9, 2021, 11:10 PM IST
On Friday, the company’s stock closed at 3.5 per cent lower at Rs 178.85 on the NSE. In October 2020, the company’s delisting attempt was unsuccessful.
The company said in a stock exchange filing that it has brought this open offer of its own, under which 371,750,500 equity shares of the company come and which is 10% of the share capital of Vedanta Limited. Also, it has been further stated that this public announcement has been made by JP Morgan India Pvt., Which is the manager company of this offer. Apart from this, this information is also given in it, which company will buy shares in it.
According to the stock exchange filing, PAC 1 includes Star Holding, PAC 2 Vedanta Holding and PAC 3 include Vedanta Holdings Mauritius.Read also- Union Budget 2021: Economists advise to accelerate privatization, emphasis also on infrastructure
Vedanta has bid 59 thousand crore to buy stake in BPCL
Significantly, the government has received three bids to buy 52.98 per cent stake in the country’s second largest petroleum company Bharat Petroleum Corporation Limited (BPCL). In this, Vedanta has made a bid of 59 thousand crores. The central government hopes that it will get a revenue of Rs 45,000 crore from the privatization of BPCL.
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The Vedanta group has given EoI to acquire the government’s 52.98 per cent stake in BPCL. Businessman Anil Agarwal’s company Vedanta is being considered as the strongest contender to buy BPCL.