Sesa Goa buys 1.5% additional stake in Cairn India

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Sesa Goa buys 1.5% additional stake in Cairn India

Iron ore miner Sesa Goa has acquired additional 1.5% stake in oil explorer Cairn India via a block deal on the Bombay Stock Exchange at an average price of Rs 325 a share.

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Moneycontrol Bureau

Iron ore miner Sesa Goa has acquired additional 1.5% stake in oil explorer Cairn India via a block deal on the Bombay Stock Exchange at an average price of Rs 325 a share.

While Sesa Goa bought 2,43,07,241 shares, its arm Sesa Resources acquired 45,00,000 shares of Cairn India from Cairn UK Holdings, it said on Wednesday.

Sesa Goa, which is owned by Vedanta Resources Plc, now holds 20% in Cairn India post this stake acquisition.

Vedanta Resources is acquiring a majority stake in Cairn India, part of which will be held by Sesa Goa.

Cairn India shares closed at Rs 321.90 on NSE on Wednesday, almost flat from previous close. Sesa Goa ended down 1.7% at Rs 188.50.