Vedanta subsidiary cleared to launch Cairn India offer

6th Apr 2011 08:39

The slow moving acquisition by Indian miner Vedanta Resources of a majority stake in Cairn India is lumbering into life after the company's subsidiary, Sesa Goa, received clearance from the Indian authorities to send out offer letters.Sesa Goa plans to acquire up to 20% of the share capital of Cairn India by means of an open offer at 355 rupees per Cairn India share. The offer period starts on 11 April.Vedanta's acquisition of a majority stake in Cairn India is still awaiting clearance from the Indian government. Vedanta's intention to purchase a 51-60% stake in Cairn India from Scottish oil company Cairn Energy was announced last August. ---jh

Top Risers

Share	Price	Change
80 Mile (80M)	1.06	51.86%
Steppe Cement (STCM)	36.00	20%
GreenRoc Strategic Materials (GROC)	4.00	17.65%
Petro Matad (MATD)	1.15	17.56%
Getech Grp (GTC)	3.80	16.92%

Top Fallers

Share	Price	Change
Craneware (CRW)	996.00	-25.78%
Elixirr International (ELIX)	499.00	-19.77%
Litigation Cap. (LIT)	1.65	-12.72%
Tomco Energy (TOM)	0.0375	-11.76%
Accsys Tech (AXS)	63.20	-11.73%

Top By Volume

Share	Price	Volume
Forgent (FORG)	0.0075	1,102,152,414
80 Mile (80M)	1.06	615,521,741
Empyrean (EME)	0.044	464,156,554
Kefi Gold & Copper (KEFI)	0.69	431,183,089
Nativo Resources (NTVO)	0.395	388,287,084

All prices are delayed by at least 15 minutes. Share Compare cannot be held responsible for the accuracy of share prices shown on this website, and investors should be aware that share prices can go down as well as up. Share Compare does not offer advice, and is not regulated by the Financial Conduct Authority.