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Vedanta’s Plan B for delisting gets a twist

The increase in Vedanta’s share price meant a higher open offer price was a given. But, why did Vedanta Resources up the stakes by hiking the offer size?

March 17, 2021 / 12:24 PM IST
Vedanta’s Plan B for delisting gets a twist

Vedanta Chairman Anil Agarwal (Image: PTI)

Billionaire Anil Agarwal’s open offer for India-listed Vedanta has taken a very different though not quite a surprising turn. Yesterday, the holding company Vedanta Resources said it is hiking the open offer size from 10percent to 17.5percent and upping the price it will pay by 47percent to Rs235 a share. While the price increase is substantial, it merely acknowledges the reality of Vedanta’s market price having increased to just under Rs230 in the past few months. The revised price ensures...

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