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| Name | ET Now Exclusive: Vedanta Promoters may up stake by another 10% |
| Video Uploader | Video From ET NOW |
| Upload Date | This Video Uploaded At 29-12-2020 12:21:34 |
| Video Discription | Sources tell ET NOW that Vedanta Ltd promoters, Vedanta Resources are mulling an upping stake in Vedanta Ltd by another 10% in the months to come. This comes after the promoter last week picked up a 5% stake from the open market, increasing their shareholding to about 55%. SEBI Regulations allow for the promoter to increase their stake via a creeping acquisition by up to 5% in one fiscal year without having to launch an open offer. In June this year, SEBI enhanced this limit to 10%. Thus Vedanta's promoters have the headroom to up their stake by another 5% by March 2021. At the beginning of the next fiscal year in April 2021, the promoters can pick up yet another 5%. This can potentially increase the promoter holding in Vedanta Ltd to 65%. If SEBI extends this higher limit of 10% for creeping acquisition to FY22, then the promoter can even increase their stake to 70%. In Oct, Vedanta Resources made a failed attempt to delist Vedanta Limited, for the purpose of which it had accumulated a debt of about $3 bn. This financial ammunition may now be used to increase the stake in Vedanta Ltd. As per SEBI regulations, the promoter can make another delisting offer after one year. Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com |
| Category | News & Politics |
| Tags | vedanta | Vedanta Limited | Vedanta delisting | vedanta LTD promoters | vedanta promoters | Vedanta investment | Vedanta stake increase | Vedanta group | latest on Vedanta | SEBI regulations |
