But there are no cost overruns, claimed the Government.
The valuation of the company was estimated to be up to $3 billion.
SEBI had levied Rs 2 lakh penalty on Tata Steel for disclosure violations of Bhushan Steel.
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.
Reliance Industries and its partner BP Exploration (Alpha) Ltd (BPEAL) are set to conduct an e-auction on April 3.
It will be first of its kind in India.
In conversation with Sheetal Agarwal of IIFL, the Founder of the company outlines his growth strategy, macro opportunities and fund-raising plans.