The amount will be used to fund the payout for the voluntary retirement scheme (VRA), which is likely to cost over Rs 200 crore.
The valuation of the company was estimated to be up to $3 billion.
According to a BSE filing, the parties to the proposed transaction, for which a legally binding memorandum of understanding had previously been signed, had "executed a Share Purchase Agreement and finalized the transaction."
Acquisition done for Rs 18.45 crore.
Vedanta is the parent company of Hindustan Zinc.
Floor price for the offer-for-sale set at Rs 2,450 per share.
IPO will include both issuance of new shares and offer-for-sale shares.
Reliance Industries and its partner BP Exploration (Alpha) Ltd (BPEAL) are set to conduct an e-auction on April 3.
Increase applicable on term deposits of less than Rs 2 crore.
In conversation with Sheetal Agarwal of IIFL, the Founder of the company outlines his growth strategy, macro opportunities and fund-raising plans.