Vedanta Promoter Group Firms Entered Three Facilities: Twin Star Holdings Ltd., Vedanta Netherlands Investments B.V. and Vedanta Resources Ltd. signed three separate facility agreements on Nov. 22 to borrow a total of $800 million, according to an exchange filing.
- Twin Star will borrow $400 million, Vedanta Netherlands will seek $150 million and Vedanta Resources will avail a facility of $250 million.
- Standard Chartered Bank is the arranger as well as lender on all the three facility agreements.
- On Nov. 23, Vedanta Group firms bought 138 million Vedanta Ltd. shares at Rs 349.7 a share.
Shares of Reliance Industries Ltd. rose 4.5%, the most in six months after the company announced plans to move its gasification unit to a wholly-owned subsidiary.
Trading volume was triple the average for this time of the day and the stock was the best performer among its peers.