Wednesday, August 17th, 2022 18:19:45

Vedanta-Cairn Merger Effective

Updated: May 4, 2017 10:14 am

Vedanta Limited (“Vedanta”) and Cairn India Limited (“Cairn India”) recently announced that the merger of Cairn India with Vedanta pursuant to the Scheme of Arrangement has become effective.

Vedanta is ranked 6 among the global diversified natural resources companies, and the only one with majority of its sales to the growing Indian market. This merger consolidates Vedanta’s position as one of the world’s largest diversified natural resources companies, with world-class, low-cost assets in Metals & Mining and Oil & Gas. The merged company will have a larger pro forma market cap of $15.6 bn, and higher free float of 49.9%. Vedanta will have one of the strongest balance sheets in the Indian corporate sector with flexibility to balance capital allocation to the highest return projects while providing a strong and stable dividend.

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