After the state owned Oil & gas major, ONGC has recently made its plans clear that it do not want to make a counter bid for Cairn India, it is expected that the following process will be relatively easier for Vedanta.

In fact, while the sources have said that it is unlikely that Vedanta will hike the price of its open offer, it may be noted here that offer will open on the 11th October.

Moreover, the sources also mentioned the fact that the company would not like to exceed its financial budget allocated to the deal.

For the record, Vedanta has said that the company will be acquiring a 40-51% stake in cairn India which will include a non-compete fee of Rs. 50/share. It is to be mentioned here that the open offer of Vedanta is still subject to the approval of the market regulator, SEBI.

On the other end, the two member panel of Cairn India is still looking into the corporate governance and minority shareholders interest have refused to comment on the issue. Vedanta had made an open offer of Rs. 355 to the minority shareholders.