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.

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.