Vedanta Resources has sold a 2.6% stake in its subsidiary Vedanta Limited through a block deal. The transaction, which saw 17.1 crore shares change hands, was executed by Finsider International, an arm of Vedanta Resources. This move aims to deleverage the balance sheet at both the Indian and Vedanta Resources levels. Despite earlier denials of any stake sale plans, the deal was completed, causing Vedanta's shares to dip 6.5% to Rs 424.50 on the BSE. The stake sale, valued at Rs 7,485 crore, involved a group of institutional investors. Vedanta's promoters currently hold a 61.95% stake in the company, down from just under 70% in December 2022. Additionally, 2.4% of the equity changed hands in 59 bunched trades, with the promoter entity likely being the seller.
Vedanta Resources will sell a 2.6% stake in Indian metals-to-oil firm Vedanta to a group of institutional investors. #Vedanta #VedantaResources https://t.co/BjHm4Iptfu
#Vedanta shares fall over 6% after a large block deal.
#Vedanta has 2.4% of equity change hands in 59 bunched trades.
#Vedanta Slips 7% After Stake Worth Rs 7,485 Cr Sold Via Block Deal; Promoter Likely Seller #BusinessNews #Finance https://t.co/rHrZ6O99G3
#MarketsWithBS | Shares of #Vedanta dipped 6.5% to Rs 424.50 on the #BSE in Wednesday’s intra-day trade after over 2% equity of the company changed hands via block deals. #Markets #sharemarket #stockmarket #BuzzingStocks https://t.co/oor9SBFwe3
India's Vedanta's controlling shareholder to sell 2.6% stake in firm https://t.co/6Rgk6H2Xb0 https://t.co/XWxW0DUlyw
Arm #FinsiderInternational allows banks to sell 2.6% stake in Vedanta Ltd. Stake sale allows to deleverage balance sheet at both Indian & VRL Level, says Vedanta Resources https://t.co/uTnyk7iVaa
News Alert | Vedanta (Finsider International) sold shares in block today @VedantaltdPower https://t.co/GkzDwQO8mq
As many as 17.1 crore shares of #Vedanta changed hands in a block deal on Wednesday. Sources tell CNBC-TV18 that the promoter entity is likely to be the seller in the transaction @nimeshscnbc @hormaz_fatakia For more details, visit the link 👇 https://t.co/Re2YBwk8Um
Vedanta Block Deal: Latest update on stake sale by Anil Agarwal https://t.co/97M5KU5yoW
#MarketsWithBS | #ChemplastSanmar stock surged as much as 2.16% to hit an intraday high of Rs 576 per share on Tuesday. #sharemarket #markets #StockMarket #Buzzingstocks https://t.co/Rbft6uUwJV
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#MarketsWithBS | Shares of Krishna Institute of Medical Sciences shot up to 6.4% at Rs 2187 per share on the #BSE in Tuesday’s intraday deals. #Markets #sharemarket #stockmarket #Buzzingstocks https://t.co/ULKCXU34r1
#Vedanta's promoters hold a 61.95% stake in the company, which declined from just under 70%, starting from December 2022. Read more: https://t.co/MzpC6mNQ16
🚨 Vedanta Resources Ltd., categorically denies plans to sell a stake in its subsidiary. Read on 👇 https://t.co/PPXHbzQt1o #Vedanta #Shares
Vedanta Block Deal News: 2.5% stake sale - Latest update https://t.co/zIirpCR4jZ
News Alert | Vedanta Resources strongly denies any plans to sell a stake in Vedanta Limited https://t.co/Qgbaga0W1G
Block Deal News: Billionaire Anil Agarwal likely to sell 2.5% shares in Vedanta Ltd – Details https://t.co/9UuFU0L6iU
#AnilAgarwal likely to sell a 2.5% stake in #Vedanta https://t.co/wBKW6SbFL4