Vedanta Block Deal: Anil Agarwal may sell 2.5% stake in Vedanta, claims media reports

Vedanta Block Deal: UK-based Vedanta Resources held a 61.95% stake in Vedanta through six subsidiaries as of March 31, 2024. Vedanta shares have climbed 83% so far this year (in 2024) to Rs 471 on Friday.

Muskan Kumawat

Fri, 21 Jun 2024 07:26 PM (IST)

Vedanta Block Deal: Anil Agarwal may sell 2.5% stake in Vedanta, claims media reports

Billionaire Anil Agarwal's Vedanta Resources may sell a 2.5 percent stake in Vedanta Limited through a block deal in the next few weeks. According to media reports, the promoter group may raise about Rs 4,000 crore through block deals by selling about 9 crore shares.

As of March 31, 2024, UK-based Vedanta Resources owned a 61.95% ownership in Vedanta through six subsidiaries. Vedanta shares have risen 83% this year (in 2024), reaching Rs 471 on Friday. The Sensex is up 7% this year. According to Amar Ujala, the transaction is likely to be handled by one of the multinational banks.

Finsider International, which is affiliated with Vedanta Resources, sold 6.55 crore Vedanta shares in February for Rs 1,700 crore. The transaction occurred at a price of Rs 265.14 per share. Since then, Vedanta's stock has increased by 77%.

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Muskan Kumawat Muskan Kumawat is a Journalist & Content Writer at Sangri Times English, covering a wide range of topics, including news, entertainment, and trending stories. With a strong passion for storytelling and in-depth reporting, she delivers engaging and informative content to readers.