M&A

M&A

Vedanta to acquire semicon biz from group holding co

BSE Disclosure  

Publicly-listed Vedanta Limited is to acquire 100% of Vedanta Foxconn Semiconductors Pvt Ltd (VFSPL) and Vedanta Displays Ltd (VDL), wholly owned subsidiaries of Twin Star Technologies Ltd (TSTL) via share transfer at face value. TSTL is a wholly owned subsidiary of Volcan Investments Ltd, the ultimate holding company of Vedanta Ltd. VDL will set up an integrated display fab business to cater all major applications across small, medium and large sized display segments. VDL was incorporated in India on February 16, 2022 as a special purpose vehicle (SPV). VFSPL (earlier known as Vedanta Foxconn Semiconductors Ltd) will set up an integrated semiconductor fab. VFSPL was incorporated in India on February 18, 2022 as a special purpose vehicle (SPV).