Promoter Twin Star sells Vedanta shares worth Rs 1,896 crore in block deal
According to exchange data, Twin Star Holdings sold 6,50,72,990 shares at a price of Rs 291.36 apiece. The transaction was valued at Rs 1,895.97 crore.
The identities of the buyers were not immediately available.
The block deal comes as Vedanta continues to execute its broader restructuring strategy following the listing of its demerged businesses. Earlier this month, four demerged entities of the Vedanta group, including Vedanta Aluminium and Vedanta Power, made their stock market debut.
Vedanta has also been focused on reducing debt and simplifying its corporate structure while pursuing growth across its metals, mining and energy businesses.
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Shares of Vedanta have remained in focus amid the group’s ongoing demerger, commodity price movements and expectations of further value unlocking.The company recently completed one of India’s largest corporate restructurings, with separate listed entities for its key businesses aimed at improving capital allocation and attracting sector-specific investors.
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