London-listed mining group Vedanta Resources has completed the first tranche of its purchase of Cairn Energy’s Indian subsidiary after acquiring a 10 per cent stake for $1.5 billion. Vedanta acquired 191.92 million equity shares of Cairn India at Rs 355 per share. The total cash payout worked out to Rs 6,813.16 crore [one crore = ten million]. While Vedanta’s statement put the acquisition price at 1.505 billion, Cairn Energy in a separate statement put it at $1.36 billion. The difference may be due to the different exchange rates the two companies may have taken. Following the purchase of 191,920,207 shares, Vedanta upped its stake in Cairn India to 28.5 per cent.