Vedanta promoters reportedly planning gradual share buybacks in oil and gas units
According to a CNBC-TV18 report, Vedanta's promoters are looking to secure between ₹2,000 crore and ₹3,000 crore to boost their ownership in the group's oil and gas subsidiaries. This strategy involves 'creeping acquisitions,' which refers to the steady purchase of shares from the open market over an extended timeframe. Under SEBI regulations, promoters are permitted to increase their stake by up to 5% annually using this method.
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