{"id":405457,"date":"2021-03-18T08:41:02","date_gmt":"2021-03-18T03:11:02","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=405457"},"modified":"2021-03-18T09:35:45","modified_gmt":"2021-03-18T04:05:45","slug":"billionaire-anil-agarwal-sweetens-offer-for-vedanta-ltd-shares-by-47","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/billionaire-anil-agarwal-sweetens-offer-for-vedanta-ltd-shares-by-47\/","title":{"rendered":"Billionaire Anil Agarwal sweetens offer for Vedanta Ltd shares by 47%"},"content":{"rendered":"<p>Anil Agarwal, billionaire founder of the Vedanta Group, has pledged his stake in a cash-rich Indian unit to help sweeten terms for a takeover attempt that\u2019s key to his debt-repayment plans. <\/p>\n<p>London-based Vedanta Resources Ltd. will now seek to buy 17.51% of Mumbai-listed Vedanta Ltd. at 235 rupees ($3.24) a share, it said in an exchange filing Tuesday. That\u2019s up from the previous 10% at 160 rupees apiece. Vedanta Resources\u2019s existing 55% holding in Vedanta Ltd. is placed as collateral under conditions of a dollar bond sale this month that will go toward partly funding the open offer. <\/p>\n<p>The revised offer represents a small premium to Tuesday\u2019s 226.5 rupees closing price and a successful transaction will take Agarwal closer to full control of Vedanta Ltd.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Anil Agarwal, billionaire founder of the Vedanta Group, has pledged his stake in a cash-rich Indian unit to help sweeten terms for a takeover attempt that\u2019s key to his debt-repayment plans. London-based Vedanta Resources Ltd. will now seek to buy 17.51% of Mumbai-listed Vedanta Ltd. at 235 rupees ($3.24) a share, it said in an exchange filing Tuesday. That\u2019s up from the previous 10% at 160 rupees apiece. Vedanta Resources\u2019s existing 55% holding in Vedanta Ltd. is placed as collateral under conditions of a dollar bond sale this month that will go toward partly funding the open offer. The revised [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-405457","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/405457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=405457"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/405457\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=405457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=405457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=405457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}