MUMBAI, Jan. 1 -- Vedanta Resources Ltd, the promoter entity of billionaire Anil Agarwal's Vedanta Ltd, on Thursday, 24 December, bought 185 million shares or a 4.98% stake in the company for '2,959 crore from the company's institutional shareholders, according to bulk deal data available on the exchange.
This purchase will take the shareholding of Vedanta Resources to 55.1%. As on 30 September, promoters held 50.13% in the company.
Promoters are allowed to acquire up to 5% a year through creeping acquisition without triggering an open offer, according to Securities and Exchange Board of India norms.
Vedanta Holdings Mauritius, a subsidiary of Vedanta Resources, bought 73.58 million and 111.42 million shares at an average price of '159.9...