Vedanta may soon get SEBI nod for Cairn open offer
London-based Vedanta Group is likely to soon get Securities and Exchange Board of India (SEBI) nod for the Cairn open offer, reports CNBC-TV18.
January 18, 2011 / 18:51 IST
London-based Vedanta Group is likely to soon get Securities and Exchange Board of India (SEBI) nod for the Cairn open offer, reports CNBC-TV18.
The market regulator has obtained comments from merchant bankers on the open offer is currently processing them. Meanwhile, the trouble-struck company has made a fresh application to the Ministry of Environment and Forests (MoEF) to expand Lanjigarh in the Orissa project. It is learnt that Vedanta has drafted a new application accommodating the earlier concerns raised by MoEF.Cairn India is a three-way joint venture with Cairn, domestic oil and gas major ONGC and Petronas of Malaysia. Presently, the Edinburgh-based Cairn Energy holds a 62.37% stake in Cairn India. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
