In 2015, Sesa Sterlite changed its name to Vedanta Limited. The consolidation will create world’s seventh largest global diversified natural resources major by earnings before interest, taxes depreciation and amortisation (EBITDA). The new firm will be the seventh largest global diversified natural resources major by earnings before interest, tax and depreciation. Fake invoicing under GST: What happens after govt catches you for issuing fake invoice? This includes personalising content and advertising. Try any of our Foolish newsletter services free for 30 days . The Board has approved to demerge the Power … Meanwhile, shares of other Vedanta Group firms -- Hindustan Zinc and Cairn India also ended in the negative zone. Compare Price performance of Sterlite Inds. 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… The Company Manufacture and deals in electrical wires and cables of all kinds. After the transfer, Sesa Sterlite will have a 58.9 per cent shareholding in Cairn India. Sesa, Sterlite shareholders approve merger Criticism of India's 'abrupt' nod to Covaxin mounts, Bird flu: 12 hotspots identified; Control room set up. Its today's share price is 90.2. Post consolidation Vedanta Group will own a 58.3 per cent shareholding in the new Sesa-Sterlite structure. The current market capitalisation stands ₹30,318 Cr. 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. 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(Amalgamated) live share price, historical charts, volume, market capitalisation, market performance, reports and other company details. Appreciation per share in case of Sterlite if [email protected] 6200/500 12.4 Actual Return = Rs. Sterlite Industries (India) gained 3.16%, with the stock reversing intraday losses. 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. 3. The article All-Share Merger of Sesa Goa and Sterlite Industries Becomes Effective originally appeared on Fool.com. (A file photo of iron ore mining facility.) 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. 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 The group’s 79.4 per cent shareholding in Konkola Copper Mines will continue to be directly held by Vedanta. June 25, 2012: The shareholders of Sesa Goa and Sterlite Industries approve of the merger : The company expects to complete the merger process in the current calendar year itself : As per section 391 of the Companies Act, 75 per cent of shareholders present in person or proxy need to vote in favour for a resolution to be passed. Its current market capitalisation stands at Rs 30318.09 Cr. 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. The scheme … 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. Sterlite Industries (India) Ltd., on Wednesday, said the Bombay High Court had approved the merger of the mining firm with Madras Aluminium Company, Sterlite Energy Ltd., Vedanta Aluminium and Sesa Go 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. MUMBAI: Shares of Sterlite Industries and Sesa Goa surged higher after their long-awaited merger became effective with all the necessary approvals. The press release said increased diversification would reduce volatility of earnings through commodity cycles, lowering the cost of capital and enhancing value. Merger of the Brewery Division into Chennai Breweries Pvt. 1 lakh, Shares held by Custodians and against which Depository Receipts have been issued, Aditya Birla SL Special Situations Fund(G). 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. Share: Updated: Jun 25, 2012, 11:54 AM IST. [22] 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. Sesa Goa and Sterlite Industries (India) have received shareholders' nod for a proposed merger of the companies. 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. The merger, first announced on February 25, 2012, is aimed at creating a mega Indian natural resources giant, Sesa Sterlite, on the likes of BHP Billiton and … 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. The merge will entail a share swap in the 3:5 ratio, wherein five shares of Sterlite will fetch three shares of Sesa Goa. Sterlite Industries (India) Ltd. (Merged) was incorporated in the year 1975. Sesa Goa Limited (‘Sesa Goa’) and Sterlite Industries (India) Ltd (‘Sterlite’) today announced that merger of Sterlite and The . The group also plans to double capacity in the next three years. Currently, both the Telecom business and Power Products and Transmission Grid are housed under the same company though operates as separate business units. 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. Sterlite Industries (India) Ltd. and Sesa Goa Ltd., which agreed to combine, dropped in Mumbai trading on concern their finances may be weakened by … 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. Company History - Sterlite Industries (India) Ltd. (Amalgamated) 1975 - The company was originally incorporated as Rainbow Investments Ltd. on 8th September. A file photo of iron ore mining facility. Sesa Goa was at Rs 133.85, up 2.49 per cent, on the BSE. In the latest quarter, company has reported Gross Sales of Rs. Appreciation per share in case of Sterlite if Bought@104 6200/500 12.4 Actual Return = Rs. It touched a high of Rs 79.55 and a low of Rs 73 in trade today. 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. The stock had lost as much as 3.75% at the day's low of Rs 73 in early trade. 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 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. 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. Sterlite forges joint venture with Brazilian company for optical fibre Within a week after receiving final approval from the Goa Bench of Bombay High … In 2015, Sterlite Industries and Sesa Goa announced their merger and finally merged into a single entity in August 2015. From Metal - Non Ferrous sector. Jagannadham Thunuguntla of SMC Capital said: “This is a clear attempt to unlock value. Within a week after receiving final approval from the Goa bench of Bombay High Court, Vedanta group firms, Sesa Goa and Sterlite Industries on Saturday announced that their merger scheme, together with several other group firms, has now become effective. Overall company should see re-rating, added he. Also get to know the Latest Financials, News, Research Reports, Recommendations and … The consolidation will create world’s seventh largest global diversified natural resources major by earnings before interest, taxes depreciation and amortisation (EBITDA). 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. Every equity shareholder of Sterlite holding 5 (five) equity shares in Sterlite of Re. The UK-based Vedanta Resources Plc will merge its Indian firms — Sesa Goa and Sterlite Industries — into a single entity Sesa Sterlite and also offload debt of … Sterlite Industries (India) Ltd. (Merged) was incorporated in the year 1975. Its current market capitalisation stands at Rs 30318.09 Cr. Sterlite Power Transmission Ltd (STPL)is a public company recently incorporated to carry on the business, of manufacturing of power transmission products such as power conductors and high voltage and extra high voltage cables, providing turnkey solutions for power industries and participating in the creation of power transmission infrastructure across the country. 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