To list preference shares on NYSE post Vedanta deal: Cairn

Indian mining company Vedanta Limited and its oil subsidiary Cairn India will be merging with each other minority shareholders of Cairn India will receive one equity share in Vedanta for each share held. Shareholders will get one assured 7.5 percent redeemable preference share with Rs 10 face value. S Mathur, chief financial officer, says the share can be redeemed 18 months after its issuance and will be listed on the NYSE soon.

The deal, that experts believe is more beneficial to Vedanta,  may be approved by regulators and shareholders by December-end.