Key Points
MUMBAI - Vedanta Ltd promoter is in talks to sell a partial stake in the mining major to Rajiv Jain-led GQG Partners in a deal worth $1 billion, ETNow news channel reported, quoting sources...
The final talks for a potential stake sale have already taken place, and the transaction may take place in a few days in the form of a block deal, the news channel reported...
As of December-end, promoter and group entities cumulatively held a 63.71% stake in Vedanta Ltd..
A year back, GQG Partners rose to fame on Dalal Street, after the global investment firm made a contra bet on Adani Group and bought stocks of four companies for Rs 15,000 crore, following a massive rout triggered by US-based Hindenburg Researchs explosive report against the group...
The billion-dollar worth of share sale will take place in the form of block deals and will cut down the parent-level debt by a third and give a message to the market that the promoters of Vedanta are very serious and are open to selling some family silver to manage their debt, ETNow reported...
You might be interested in
Promoter sells 1.8% stake in Vedanta via open market for over Rs 1,700 crore
15, Feb, 24The promoter entity sold 6,55,18,600 shares of the mining major at Rs 265.14 a share, bulk deals data showed. On Thursday, shares of Vedanta ended 4% down on the BSE at Rs 268. The sale happened at a discount of more than 5% to the previous close.
Big block deal in Vedanta. Is GQG buying stake from promoter?
15, Feb, 24US-based GQG Partners is in talks to buy a stake in Vedanta. A big block deal worth over Rs 2,600 crore took place in Vedanta. The stake sale could be part of the Anil Agarwal-led mining companys efforts to raise capital to repay debt.
Vedanta in talks to sell partial stake to Rajiv Jain’s GQG Partners for $1 billion: Report
15, Feb, 24The final talks for the potential stake sale have reportedly already taken place. The transaction too might take place in a few days in the form of a block deal.
Vedanta in search of nirvana: A look into the six-way split of the conglomerate
30, Sep, 23Indian conglomerate Vedanta Resources is facing increased risk around its upcoming debt repayments, leading to a downgrade by Moody's Investors Services. The company is struggling to raise funds to cover its debt obligations, including $3.2 billion in bonds maturing between 2024 and 2025. Moody's warned of a further downgrade if the company fails to make progress on funding arrangements.
Vedanta denies media reports of Agarwal mulling stake sale worth $630 million
23, Mar, 23Mining mogul Anil Agarwal is weighing a stake sale in Vedanta as a last-resort option and is studying the possibility of selling less than 5 per cent of the company, news agency Bloomberg reported on Thursday. In order to soothe investor concern over the companys liquidity and ability to repay upcoming obligations, Vedanta Resources has already slashed its net debt by $2 billion this year
GQG Partners likely to increase Adani investment, says founder
08, Mar, 23GQG Partners, co-founded by Jain in 2016, bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller's critical report in January sparked a stock rout.
Sensex soars 900 pts, Nifty nears 17,600; PSBs, Adani Group stocks sizzle
03, Mar, 23CLOSING BELL: The Rs 15,446 cr stake buy by GQG Partners in Adani Group, coupled with positive global cues buoyed sentiment on Friday. Heavyweights RIL, ITC and Airtel also rallied up to 3 per cent.
Twin Star holdings seeks up to $501 million via Vedanta share sale
02, Aug, 23As per reports, the promoter entity will be selling 16 crore Vedanta shares in block deal at an offer price of Rs 258.5 per share on Thursday. Anil Agarwal-led Vedanta Resources, a London-based company, is taking various measures to pay its debt in the past few months.