Vedanta’s parent organization -- Vedanta Resources has divested a 2.6% stake in Vedanta for Rs 4,184 crore through an open market transaction. Finsider International Company, an affiliate and promoter entity of Vedanta Resources, facilitated the sale via a bulk deal on the BSE. Vedanta Resources has sold shares at an average price of Rs 427.21 each.
Post-transaction, the combined promoter group's stake in Vedanta has reduced to 59.32% from the earlier 61.95%. The sale aligns with Vedanta Resources' commitment to deleverage its balance sheet and support its strategic growth initiatives. Vedanta Resources has sold its stake to reduce debt.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.
