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Vedanta to invest in Sterlite

LONDON DEC. 30. Vedanta, the holding company of Sterlite Industries, will invest a portion of the 507 million pound sterling raised through the public offer on the London Stock Exchange, in the forthcoming rights issue of its subsidiary.

Sterlite, where Vedanta holds 60.8 per cent stake, plans to raise Rs. 1,400 crores through a 3:10 rights issue and then offer a 1:1 bonus to its shareholders.

PTI

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