No Result
View All Result
  • Login
Saturday, June 25, 2022
Afternoon Voice
SUBSCRIBE
  • Home
  • Top News
  • City News
  • Nation
  • World
  • Business
  • Entertainment
    • Bollywood
    • Hollywood
  • Sports
    • Cricket
    • Hockey
    • Tennis
    • Football
    • Badminton
  • Editorial
  • Opinion
    • Column
    • Diary
    • Letters
  • Epaper
  • More
    • Editor’s Pick
    • Featured
    • Lifestyle
    • Different Strokes
    • Multimedia
    • Sci-Tech
    • Politics
No Result
View All Result
  • Home
  • Top News
  • City News
  • Nation
  • World
  • Business
  • Entertainment
    • Bollywood
    • Hollywood
  • Sports
    • Cricket
    • Hockey
    • Tennis
    • Football
    • Badminton
  • Editorial
  • Opinion
    • Column
    • Diary
    • Letters
  • Epaper
  • More
    • Editor’s Pick
    • Featured
    • Lifestyle
    • Different Strokes
    • Multimedia
    • Sci-Tech
    • Politics
No Result
View All Result
Afternoon Voice
No Result
View All Result
  • Home
  • Top News
  • City News
  • Nation
  • World
  • Business
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Epaper
  • More

Home > Uncategorized > Cairn India’s Rs. 5,725 crore share buyback starts on January 23

Cairn India’s Rs. 5,725 crore share buyback starts on January 23

afternoonvoice@gmail.com' by Afternoon Voice
January 14, 2014
in Uncategorized
A A
0

Cairn-IndiaMining baron Anil Agarwal’s Cairn India Ltd will spend up to Rs. 5,725 crore to buy back shares to give him greater control over the nation’s largest private oil producer.

The exploration company will buy back shares from January 23 and extinguish them. The purchase may include a part of the 10.3 per cent stake held by former promoter Cairn Energy Plc.

Cairn India, which is sitting on a cash pile of about $3 billion, received shareholder approval to buy 17.09 crore shares, or 8.9 per cent of the equity, from the open market at not more than Rs. 335 apiece, a public notice said.

The buyback will be open until July 22, the notice said. After completion, Mr Agarwal’s Vedanta Group ownership in Cairn India will rise to 64.53 per cent from 58.76 per cent.

Separately, London-listed Vedanta Resources Plc said it received 99.89 percentage of votes in favour of potential participation of Cairn Energy in the proposed buyback at a shareholder meeting held yesterday.

UK’s Cairn Energy sold a majority stake in Cairn India to the Vedanta Group at Rs. 355 a share, a level not seen in the past year.

“Cairn Energy is a known seller for a long time and the share buyback may present it with an opportunity to exit from Cairn India,” an analyst said.

The maximum buyback price represents an over 4 per cent premium compared to the average of the weekly high and low of the closing share price of the company on the stock exchanges during the two weeks preceding the board approval on November 26, according to the notice.

afternoonvoice@gmail.com'

Afternoon Voice

Recommended For You

michael martin, irish pm, irish prime minister, martin
Uncategorized

Irish PM Martin urges Britain to resume talks with EU over its N.Ireland law

June 19, 2022
RESERVE-WILDLIFE-NATURE-RHINOCEROS
Nation

ESZ of one km from the demarcated boundary is must for National Parks and Wildlife Sanctuaries, directs Supreme Court

June 3, 2022
p chidambaram, chidambaram, congress, Jawaharlal Nehru, Narendra Modi
Uncategorized

Attempt to distort history, Nehru intervened in Goa at right time: Chidambaram on PM’s criticism

February 11, 2022
ks sethumadhavan, director, south indian, filmmaker, sethumadhavan
Uncategorized

Legendary South Indian director K S Sethumadhavan passes away

February 9, 2022
japanese, japan pm, shinzo abe, shinzo
Uncategorized

Ex-Japan PM says a Chinese military “adventure” could be “suicidal”

February 9, 2022
tayyip erdogan, erdogan, Alevi, Alevi community, AK Party
Uncategorized

Tayyip Erdogan faces uphill bid to woo Turkey’s large Alevi minority

February 9, 2022
ADVERTISEMENT

LATEST

Foreign Exchange, Stock, Mutual fund,

Forex reserves dip by USD 5.87 bn to USD 590.588 bn in the week end

June 24, 2022
Tejashwi Yadav, Leader of Opposition of Bihar,

RJD’s Tejashwi Yadav accuses Centre of destabilising non-BJP governments: MVA crisis

June 24, 2022
uddhav thackeray, uddhav, thackeray, resignation, cm, chief minister, maharashtra, chief minister of maharashtra, hindutva, sena, shiv sena, shiv, bjp

I have left CM’s bungalow, not my determination, says Uddhav amid rebellion in Shiv Sena

June 24, 2022
Jammu and Kashmir, Corruption, Premature Retirement

‘Premature retirement’ of 9 employees over corruption: J-K govt orders

June 24, 2022

Eknath Shinde’s revolt has sparked a debate across India

June 24, 2022
ADVERTISEMENT
Afternoon Voice

© 2022 Newsmakers Publications Pvt. Ltd. | All rights reserved.

Important Links

  • Disclaimer
  • Privacy Policy
  • About Us
  • Contact Us
  • Support Parallel Media

Follow Us

No Result
View All Result
  • Home
  • Top News
  • City News
  • Nation
  • World
  • Business
  • Entertainment
    • Bollywood
    • Hollywood
  • Sports
    • Cricket
    • Hockey
    • Tennis
    • Football
    • Badminton
  • Editorial
  • Opinion
    • Column
    • Diary
    • Letters
  • Epaper
  • More
    • Editor’s Pick
    • Featured
    • Lifestyle
    • Different Strokes
    • Multimedia
    • Sci-Tech
    • Politics

© 2022 Newsmakers Publications Pvt. Ltd. | All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?