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Promoter co. sells 73 mn Vedanta shares for Rs.2,149-Cr

Business Line  

Twin Star Holdings, a promoter group company of the Vedanta Group, has sold about 73 million shares in Vedanta for INR 2,149 crore through a block deal. The shares were sold at a price of INR 292 per share. Following this transaction, Twin Star holds approximately 40% of Vedanta, while the total promoter ownership in the company remains at about 56%.The company is an entity within the Vedanta Group. The proceeds from this share sale are expected to be used to reduce debt at the parent company, Vedanta Resources.