Reported 5 months ago
Indian commodities tycoon Anil Agarwal's Vedanta Ltd. is considering a share sale that could raise up to $1 billion in the coming weeks, with shares of Vedanta having risen 78% this year. The company is working with advisers like Axis Capital and Citigroup Inc. to gauge interest from potential investors, including Middle Eastern funds. Vedanta may opt for a qualified institutional placement for the fundraising, taking advantage of the Indian equity rally, though details are subject to change and there is no certainty that the deal will proceed.
Source: YAHOO