Billionaire Anil Agarwal likely to sell 2.5% stake in Vedanta: Report

Vedanta Resources to Sell 2.5% Stake in Vedanta Ltd – 

Billionaire Anil Agarwal’s Vedanta Resources is set to sell a 2.5% stake in Vedanta Ltd through block deals in the coming weeks, as per the sources of Economic Times. The promoter group plans to offload around 9 crore shares, aiming to raise approximately Rs 4,000 crore.

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As of March 31, 2024, UK-based Vedanta Resources held a 61.95% stake in Vedanta Ltd through six subsidiaries. Vedanta Ltd’s shares have surged 83% this year, closing at Rs 471 on Friday, significantly outpacing the Sensex, which has gained 7% year-to-date.

The block deal is expected to be managed by an international bank, although specific details have yet to be disclosed. This strategic move comes as Vedanta Resources looks to capitalize on the robust performance of its shares in 2024.