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In the next week, Vedanta India going to acquire up to 5.33 percent stake worth over Rs 2,200 crore in its group concern Cairn India.
Vedanta India has changed its name from Sesa Sterlite last month and is a promoter in Cairn India.
In a filing to BSE, Vedanta said that it will acquire up to 5.33 per cent stake or 100,000,000 shares of Cairn India from Twin Star Mauritius Holdings on June 3, 2015 or within a period of 90 days for Rs 220.40 per share.
Vedanta India’s stake in Cairn India will increase from 18.73 percent to 24.06 percent after the acquisition.
