Sesa Sterlite’s promoters have raised their holding in the past one-and-a-half months through creeping acquisition route. Twin Star Holdings, the promoter group company, has bought an additional 59.43 million shares representing 2% of total equity capital of the company between May 20 and June 20, 2014.
Moreover, the Anil Agarwal-controlled Mauritius-based Twinstar Holdings, the parent company of Sesa Sterlite, has purchased these shares from open market on BSE and NSE. The promoter has acquired these shares for about Rs 1,700 crore, based on an average market price of Rs 285.80 during this period.
Post acquisition, total holdings of Twin Star Holdings has increased to 40.61% from 38.61% earlier.
Sesa Sterlite is one of the world’s largest diversified natural resource companies. Its business primarily involves exploring, extracting and processing minerals and oil & gas.
