Vedanta has concluded the merger of Cairn India with itself. The merged company will have a larger proforma market cap of $15.6 billion, and a higher free float of 49.9 per cent. The company has fixed April 27 as the record date for determining the list of shareholders of Cairn India to whom the equity and preference shares of Vedanta will be allotted as per the scheme.
The shareholders of Cairn India will receive for each equity share held, one equity share of Vedanta of face value Rs 1 each and four 7.5 per cent Redeemable Preference Share in Vedanta with a face value of Rs 10 each.
Moreover, the Cairn India’s shareholders as on the said record date, who become shareholders of Vedanta will receive an interim dividend of Rs 17.70 per equity share.
Vedanta is an India-based global diversified natural resources company with operations across zinc, lead, silver, oil and gas, iron ore, copper, aluminum and commercial power. The company operates through segments, including Copper, Aluminium, Iron Ore, Power and Others.
