Vedanta Ltd declared preferred bidder of Punnam Manganese Block

The Department of Mines & Geology, Government of Andhra Pradesh vide its 'Notice Inviting Tender' dated July 10, 2025, had invited tenders to participate in the auction process for grant of Composite License in respect of Punnam Manganese Block in the State of Andhra Pradesh. Post qualifying at the initial bid stage, the Company participated in the live E-auction for grant of the stated Composite License.

Via 'Declaration of Preferred Bidder' notification dated September 18, 2025 (received by the Company on September 18, 2025, at 12:10 pm IST), the Company has been declared as 'Preferred Bidder' for the Punnam Manganese Block.

As per the tender document, the Punnam Manganese Block is at G4 level of exploration with total area of 152 hectares for the block.

The grant of Composite License by the Government of Andhra Pradesh in respect of aforesaid mine shall be subject to making of necessary payment of Performance Bank Guarantee, completion of other terms and conditions of the Tender Document, obtaining of necessary approvals / permissions / clearances from various Government Departments / Agencies and execution of necessary agreements / deeds in the matter.

Shares of Vedanta Limited was last trading in BSE at Rs. 455.20 as compared to the previous close of Rs. 456.05. The total number of shares traded during the day was 751425 in over 9731 trades.

The stock hit an intraday high of Rs. 459.00 and intraday low of 452.60. The net turnover during the day was Rs. 342079622.00.

Source : Equity Bulls

Keywords

Vedanta INE205A01025 VEDL PreferredBidder PunnamManganeseBlock