Vedanta Group is set to acquire a 100 per cent stake in the semiconductor and display business from sister company Twin Star Technologies. This acquisition will make Vedanta India’s first company in integrated semiconductor and display fab business. With this restructuring, Vedanta announced the addition of semiconductors and display glass manufacturing ventures to its diversified portfolio.
Twin Star is a wholly-owned subsidiary of Volcan Investments Limited which is the ultimate holding company of Vedanta Limited.
As per a regulatory filing, Vedanta’s board of directors have considered and approved the acquisition of a 100 per cent stake in Vedanta Foxconn Semiconductors Private Limited and Vedanta Displays Limited, wholly owned subsidiaries of Twin Star Technologies Limited through share transfer at face value. The transaction is expected to close during the ongoing quarter.
