Vedanta New offer may Lure more investors:

The delisting attempt by the promoters had failed previously as influential institutional investors such as Life Insurance Corp. of India (LIC) were not willing to tender shares at the low price. LIC had suggested a per share price of ₹320 in the reverse book building process last year
Vedanta Resources Ltd (VRL)-the metals and mining giant wants to buyback its stake in an Indian subsidiary Vedanta Ltd by buying 17.51% stake (with total stake of 72.6% if all the shareholders tenders their shares) at ₹235 a piece from ₹160 earlier.
Even crude prices are on a rise and that is improving Vedanta’s earnings and cash flow expectations further. The oil and gas business contributed 31% to Vedanta’s FY20 operating profit. The per barrel crude oil prices have rebounded to around $70 levels now from sub-$20 levels in March 2020.

The company’s shares had earlier traded much higher and were near the ₹300 level during the peak of the commodity cycle. Hence, investors are expecting a higher price for an exit.

Edelweiss Securities Ltd expect total debt (standalone) of VRL to increase to $8.2 billion. VRL plans to service the debt required to buy the additional stake through the higher dividend received from the downstream investment.