Vedanta promoters to buy 4.9% stake on Thursday through block deals

Billionaire Anil Agarwal’s Vedanta Resources, which failed to garner the required number of shares to delist its Indian arm Vedanta in October, will buy around 4.9% stake on Thursday through block deals. Promoters have fixed the price range between Rs 150 and Rs 160 per share for the offer. With this transaction, promoters stake in the company will likely to increase from 50.14% to 55.04%.