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."
These dealerships may be opened in the next 6 to 12 months.
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.
Reliance Industries and its partner BP Exploration (Alpha) Ltd (BPEAL) are set to conduct an e-auction on April 3.
Company has passed on the cost of this regulatory compliance to customers in the form of higher prices.
Eicher Motors emerged as the top laggard on NSE.
In conversation with Sheetal Agarwal of IIFL, the Founder of the company outlines his growth strategy, macro opportunities and fund-raising plans.
Non-binding term sheet for the acquisition has been signed.