The merger of the global diversified metals and mining company, Vedanta Limited, and Indian oil and gas exploration and production company, Cairn India Limited is just one step away. The companies have received all the regulatory approvals except the nod from the Reserve Bank of India (RBI) for issue of preference shares.
The shareholders of the companies approved the merger last year and the National Company Law Tribunal approved it last week. Vedanta Limited is also planning to consider the payment of interim dividend to the shareholders of Cairn India once the merger is in place. Vedanta's and Cairn India's stocks are trading higher with the gains of nearly 0.3% in Wednesday's trading session.