Cairn India merges with Vedanta

The merger of Cairn India with Vedanta has been completed. The merged entity will have a pro forma market cap of $15.6 billion. The merged company will preserve the “Cairn” brand. For each equity share held in Cairn India, investors will receive one equity share and four redeemable preference shares in Vedanta. Cairn India shareholders, who will become shareholders of Vedanta, will also receive an interim dividend of Rs 17.70 per equity share as approved by the board of Vedanta on March 30, 2017. No shares will be issued to Vedanta or any of its subsidiaries for their shareholding in Cairn India.