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Monday, July 16, 2012

Buying Sesa Goa ? Check for Sterlite first

As swap ratio for future Sesa-Sterlite merger happens to be 3:5 that means  every 3 shares of Sesa Goa Limited are equivalent to 5 shares of Sterlite Limited.
Present prices of Sesa Goa Ltd.and Sterlite Ltd. are Rs. 188.45 and 102.05 respectively (by the time of this post).
This means it is still better to buy Sterlite instead of Sesa Goa.as investors in either shares shall get the shares of the merged entity Sesa-Sterlite finally.
Simply put, swap ratio is still in the favor of Sterlite Limited.
Both  the aforesaid companies belong to the Anil agrawal led Vedanta group and after the merger Vedanta resources shall hold 58.3% stake in the Sesa-Sterlite.

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