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Vedanta to pay 2nd acting returns of Rs 13.50 per share

Business Today

Mining large Vedanta on Saturday claimed its board has actually accepted 2nd acting returns of Rs 13.50 per equity share for fiscal year 2021-22, which will certainly set you back Rs 5,019 crore.

“…we want to educate you that the Board of Supervisors of the business via resolution gone by blood circulation on Saturday, December 11, 2021 have actually accepted 2nd Meantime Returns of Rs 13.50 per equity share i.e. 1,350 percent on stated value of Re 1/- per share for the Fiscal year 2021-22 amounting to Rs 5,019 crores,” the business claimed in a BSE declaring.

The document day for the objective of repayment of returns is December 18, 2021 and also the returns will certainly be paid within specified timelines as recommended under legislation, it included.

Last month, the business had actually claimed that it has actually made a decision to establish a brand-new board to embark on a thorough evaluation and also examine alternatives of demergers, spin-offs, and also critical collaborations to unlock worth and also streamline its company framework.

The brand-new board of supervisors will certainly examine and also suggest alternatives and also choices to the Board of Supervisors.

“Based on an in-depth analysis, it is the intent that the Aluminium, Iron & Steel, and also Oil & Gas organizations would certainly be housed in standalone detailed entities,” the business had actually claimed in a declaration.

Shares of Vedanta on Friday finished 0.36 percent greater at Rs 349.75 on the BSE.
 
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