Anil Agarwal-led Vedanta Ltd saw its share price tumble 3.3% to trade at Rs 176 apiece days after the promoter group announced an open offer to increase its stake by 10% in the commodities giant. Promoter Vedanta Resources Ltd informed bourses on Saturday of a voluntary open offer for the acquisition of up to 37.17 crore equity shares together with Twin Star Holdings Ltd, Vedanta Holdings Mauritius Ltd, and Vedanta Holdings Mauritius II Ltd — all indirect subsidiaries of Vedanta Resources. However, the offer price of Rs 160 per share, at a discount to the current market price, has been termed as ‘poor’.
