The Vedanta group, led by billionaire and an NRI Anil Agarwal, today announced the inaugural date and closure date of the offer for 20% stake in Cairn India as October 11 October 30 respectively.

This day would also witness the appropriation arrangement of the country’s fourth largest oil explorer, Cairn Energy, worth USD 9.6 billion by acquisition of 50 % hold in Cairn Energy Plc through procurement through open bid.

The offer mentioned above, which has been made available through one of Vedanta group’s company Sesa Goa, is one of worth 13,631.48.

The shares of Cairn India are being offered by Sesa Goa at 355 per equity to the public shareholders of the India’s biggest inland oilfield possessor while 405 per piece would be paid to Cairn Energy.

The stake acquisition is anticipated to be completed by the last quarter of this fiscal year when the firm will have all the 3 billion required to takeover Cairn Energy. As of now the company has gathered 2 billion for the purpose and proposes to start the procurement of shares using its cash reserves.