Vedanta Shareholder Likely To Sell Over 4% Stake
Twin Star Holdings Ltd. is likely to sell a 4.3% stake in Vedanta Ltd. via a block trade seeking at least Rs 4,136 crore.
The shareholder may sell 16 crore shares at a floor price of Rs 258.5 apiece, representing a discount of 5% on Wednesday's closing price, according to people who have seen the terms of the deal and spoke on condition of anonymity.
There is a 180-day lockup on the seller, as the people mentioned above said.
JPMorgan is the sole broker for the deal.
Shares of Vedanta closed 1.48% lower at Rs 272.80 apiece on Wednesday, as compared with a loss of 1.05% in the benchmark NSE Nifty 50.
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