Analysts maintain that the merger removes all uncertainties that were there regarding the organizational structure and this will create a big resource house with a market cap of $16-20 billion. Compare Price performance of Sterlite Inds. The merger ratio would boost Sterlite’s stock in the near term as it is done at a premium to Friday’s closing of Rs119. Try any of our Foolish newsletter services free for 30 days . The transaction involves merger of Sterlite into Sesa Goa in the ratio of three shares of Sesa Goa, the country's largest iron ore exporter, for five Sterlite shares. As per the plan, Vedanta Aluminium and Madras Aluminium will be 100 per cent consolidated into Sesa Sterlite. Merger of the Brewery Division into Chennai Breweries Pvt. Meanwhile, shares of other Vedanta Group firms -- Hindustan Zinc and Cairn India also ended in the negative zone. Rakesh Arora of Macquarie Capital Securities said: “There would be some sentiments running high on Vedanta Aluminum. While 91.7% of the Sesa Goa shareholders present at last week’s meeting in Goa voted for the merger, 92% of Sterlite Industries’ shareholders approved the deal. The company also said there would be significant synergies from the merger, and there would be cost savings of around 1,000 crore a year. The Sterlite Industries (India) Ltd’s $1.7 billion Asarco LLC buyout deal had joined the league of 10 biggest-ever merger and acquisitions deal in the year 2009. Vedanta’s direct holding of 38.8 per cent in Cairn India will be transferred to Sesa Goa, together with the associated debt of $5.9 billion, at cost. (A file photo of iron ore mining facility.) As a result of the restructuring, Sterlite Technologies Limited will become a pure-play Telecom Products & Solutions company providing Broadband Solutions for Fully Converged Networks. The Company Manufacture and deals in electrical wires and cables of all kinds. Sterlite shareholders are geting 68 per cent from the merged entity and will get more from current level. Mumbai: The shareholders of Sterlite Industries (India) and Sesa Goa Monday approved the proposed merger of both the companies. However, the restructuring will come into effect only after some minority shareholders and regulators in India and the UK give it their stamp of approval. 4. In 2015, Sterlite Industries and Sesa Goa announced their merger and finally merged into a single entity in August 2015. Also get to know the Latest Financials, News, Research Reports, Recommendations and … Sesa-Sterlite: Why Vedanta is the only winner in this merger With this move, Vedanta will be a clear beneficiary as they can pass-on debt-laden Vedanta Aluminium to Sesa Sterlite. Sterlite forges joint venture with Brazilian company for optical fibre Within a week after receiving final approval from the Goa Bench of Bombay High … Sterlite Industries (India) Ltd. (Merged) was incorporated in the year 1975. Try any of our Foolish newsletter services free for 30 days . 1 lakh, Shares held by Custodians and against which Depository Receipts have been issued, Aditya Birla SL Special Situations Fund(G). Their Registrars are ACC Ltd. Jagannadham Thunuguntla of SMC Capital said: “This is a clear attempt to unlock value. It is listed on the BSE with a BSE Code of 500900 , NSE with an NSE Symbol of STER and ISIN of INE268A01049. Sterlite Copper is a subsidiary of Sterlite industries, a company owned by Vedanta Limited.. Overview. Sterlite Industries (India) Ltd.(Merged) Share/Stock Price Stock Analysis of Sterlite Industries (India) Ltd.(Merged), Future Prospects, experts view on buy/sell/hold Sterlite Industries (India) Ltd.(Merged) shares. Sesa Goa shares rose 0.78% to close at ₹ 187.35 per share on Monday on BSE while Sterlite Industries declined 0.5% to close at ₹ 99.15. Vedanta group companies, controlled by NRI billionaire Anil Agarwal on Saturday announced the merger of its two listed companies Sterlite Industries and Sesa Goa as part of their restructuring exercise. Every equity shareholder of Sterlite holding 5 (five) equity shares in Sterlite of Re. Its current market capitalisation stands at Rs 30318.09 Cr. Its today's share price is 90.2. Sterlite Industries (India) Ltd.(Merged) was incorporated in the year 1975. The current market capitalisation stands ₹30,318 Cr. The transaction involves merger of Sterlite into Sesa Goa in the ratio of three shares of Sesa Goa, the country's largest iron ore exporter, for five Sterlite shares. KOLKATA: The Vedanta group's proposed merger of its subsidiaries Sesa Goa Limited and Sterlite Industries (India) Limited to create 'Sesa Sterlite' has become effective. Merger of Sterlite Industries and Sesa Goa will lead to a new entity, Sesa Sterlite, which will be the seventh-largest natural resources company in the world. Sterlite, Sesa Goa to merge at 5:3 ratio, says Vedanta. The merge will entail a share swap in the 3:5 ratio, wherein five shares of Sterlite will fetch three shares of Sesa Goa. While 91.7% of the Sesa Goa shareholders present at last week’s meeting in Goa voted for the merger, 92% of Sterlite Industries’ shareholders approved the deal. Four years after investors shot down restructuring of Vedanta Resources Plc, Anil Agarwal, executive chairman of the Vedanta Group, is second time lucky, as he has managed to convince shareholders to approve the merger of Sesa Goa Ltd and Sterlite Industries India Ltd, two group companies.. While the former lost 0.22 percent, the latter ended 1.23 percent down. Appreciation per share in case of Sterlite if Bought@104 6200/500 12.4 Actual Return = Rs. Within a week after receiving final approval from the Goa Bench of Bombay High Court, Vedanta group firms, Sesa Goa and Sterlite Industries today announced that their merger scheme, together with seve Its today's share price is 90.2. By continuing to use our site, you accept our use of cookies, revised Privacy Policy. It's auditors are Chaturvedi & Shah, Deloittee Haskins & Sells, RBI to be on a long-pause in rates on sticky non-food inflation: Report, Dubai launches fifth coronavirus economic stimulus package, India considers creating bank with $13.7 billion equity capital to fund roads. One look at the scheme of Sesa Goa-Sterlite Industries merger, having presented by the Group, following two conclusions can be drawn from it - 1) Vedanta Group has used India as dumping ground, to de-leverage its balance sheet, as also, to get rid of loss making units. 200703.1 Cr and Total Income of Rs.210146.5 Cr. While 91.7 per cent of the Sesa Goa shareholders present at the last week’s meeting in Goa voted for the merger, 92 per cent of Sterlite Industries’ shareholders approved the deal. Bidding for spectrum auction to start from March 1, How Trump's false claims could hurt Georgia candidates, EU watchdog gives green light for Moderna Covid vaccine, Kasatkina wins 1st women's tennis match of new season, Modi 'earned and achieved' prime ministership: Pranab, 'Around 400 terrorists in launch pads across LoC', 53 activists held under Hong Kong national security law, How WFH, job losses hit Bengaluru's residential rentals, Capricorn Daily Horoscope - January 5, 2021. Its today's share price is 90.2. While the former lost 0.22 percent, the latter ended 1.23 percent down. The company's management includes D D Jalan, AR Narayanaswamy, Sandeep Junnarkar, Berjis Desai, Gautam Doshi, Navin Agarwal, Anil Agarwal. Accordingly, for every 5 shares of Sterlite, 3 Sesa Goa shares will be issued and Sterlite will merge into Sesa Goa, which will be christened Sesa Sterlite. Sesa Goa Ltd., India’s largest iron-ore exporter, will absorb Sterlite Industries (India) Ltd. in an all-share deal, London-based Vedanta said Feb. 25 in a statement. Overall company should see re-rating, added he. But, remember this was a bad decision in hindsight. Shareholders of Sesa Goa and Sterlite Industries will meet this week for approving … is not traded on BSE/NSE, Sterlite Industries (India) Ltd.(Merged) Share Holdings, Non-Residents Individuals / Foreign Individuals, Multilateral & Bileteral Development Financial Institution, Individual shareholders holding nominal share capital up to Rs. 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It's Registered office is at S I P C O T Industrial Complex,Madurai Bye Pass Road,T V Puram P O Tuticorin-628002, Tamil Nadu. Anil Agarwal, Vedanta chairman, said, “Sesa Sterlite will be one of the largest global diversified natural resources majors, supporting the country’s industrial growth. Analysts also maintain that liabilities of Cairn India, VAL being transferred to Sterlite is a negative. Nod given, what holds back India's vaccine rollout now? From Metal - Non Ferrous sector. The consolidation will create world’s seventh largest global diversified natural resources major by earnings before interest, taxes depreciation and amortisation (EBITDA). Sesa Goa Becomes Sesa Sterlite Following Merger ... Sterlite Industries, Madras Aluminum, Sterlite Energy, and Vedanta Aluminum will join together under one roof, now called Sesa Sterlite… 1 lakh, Individual shareholders holding nominal share capital in excess of Rs. Sterlite Industries (India) gained 3.16%, with the stock reversing intraday losses. 2/- at a premium of Rs. The company is listed on the Bombay Stock Exchange (BSE) with the BSE code as 500900. and also listed on National Stock Exchange (NSE) with … In 2015, Sterlite Industries and Sesa Goa announced their merger and finally merged into a single entity in August 2015. KOLKATA: The Vedanta group's proposed merger of its subsidiaries Sesa Goa Limited and Sterlite Industries (India) Limited to create 'Sesa Sterlite' has become effective. After the transfer, Sesa Sterlite will have a 58.9 per cent shareholding in Cairn India. Appreciation per share in case of Sterlite if [email protected] 6200/500 12.4 Actual Return = Rs. Sesa, Sterlite shareholders to meet this week on restructuring. The Sterlite Industries (India) Ltd’s $1.7 billion Asarco LLC buyout deal had joined the league of 10 biggest-ever merger and acquisitions deal in the year 2009. The merger, to be executed through an all-share transaction, will give birth to Sesa The management also said the new firm will have greater scale and diversification reduces volatility of earnings for Sesa Sterlite. The article All-Share Merger of Sesa Goa and Sterlite Industries Becomes Effective originally appeared on Fool.com. 531966 : Bank of Madura Ltd. Amalgamation with ICICI Bank Ltd. 500070 : Bank of Punjab Ltd. Amalgamation with Centurion Bank Ltd. 500019 : Bank of Rajasthan Limited : Amalgamation with ICICI Bank Limited Merger of Sterlite Industries and Sesa Goa will lead to a new entity, Sesa Sterlite, which will be the seventh-largest natural resources company in the world. London Stock Exchange-listed Vedanta Resources on Saturday announced that it will merge all its Indian firms, including Sterlite Industries and Sesa Goa, into … Sterlite Industries (India) Ltd (“Sterlite” together with its subsidiaries), Sesa Goa Ltd (“Sesa Goa” together with its subsidiaries) and Vedanta Resources Plc (“Vedanta” together with its subsidiaries, the “Group”) today announced a recommended merger of Sesa Goa and Sterlite and the proposed consolidation and simplification of the Group structure. “01 (ONE) fully paid redeemable preference share of Rs. The group’s 79.4 per cent shareholding in Konkola Copper Mines will continue to be directly held by Vedanta. Major Milestone achieved Vedanta during Feb 2012 initiated restructuring across its subsidiaries involving merger of Sterlite Industries into Sesa Goa in a 5:3 swap ratio. Sesa Goa was at Rs 133.85, up 2.49 per cent, on the BSE. Sterlite Industries (India) Limited Announces Approval of Merger of Sterlite Industries and Sesa Goa Limited and Vedanta Group Consolidation by the High Court of Madras TUTICORIN, Sesa Goa and Sterlite Industries (India) have received shareholders' nod for a proposed merger of the companies. In a filing to the BSE, Sesa Goa said at a meeting of its shareholders held on June 19, at Goa, 91.70 percent of voters - representing 79.12 percent of votes in value - favoured the merger resolution. Read more about Sesa Goa, Sterlite merger to cut Vedanta debt by 60% on Business Standard. On 11 April 2017, Cairn India merged with Vedanta Limited to consolidate its position as one of the largest diversified natural resources companies in the world. The new firm will be the seventh largest global diversified natural resources major by earnings before interest, tax and depreciation. Read more about Sterlite Industries gains as proposed merger gets court nod on Business Standard. This transaction is a natural evolution, leading to simplification of the group’s structure. Sterlite Industries (India) Ltd.(Merged) is in Metal - Non Ferrous . After the consolidation, Vedanta will own 58.3 per cent in Sesa Sterlite. In 2015, Sesa Sterlite changed its name to Vedanta Limited. per share and Mkt Cap of Rs 614bn At CMP of Sterlite (Rs 99) and Sesa Goa (Rs 187), the swap ratio valuation continues to be in favour of Sterlite shareholders by about 12%. Get Sterlite Industries (India) Ltd. (Amalgamated) live share price, historical charts, volume, market capitalisation, market performance, reports and other company details. Under the merger, three Sesa Goa shares will be issued for five Sterlite shares. Meanwhile, shares of other Vedanta Group firms -- Hindustan Zinc and Cairn India also ended in the negative zone. 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