Shares of Vedanta Ltd. gained as much as 2% on Thursday, December 4, to hit a 52-week high, the National Company Law Tribunal (NCLT) Kolkata gave its approval for the Anil Agarwal-owned mining conglomerate's resolution plan for the acquisition of Incab Industries Ltd for ₹545 crore.

Vedanta will acquire 100% of the paid-up capital and management control of Incab. The same will be an all-upfront cash payment, from Vedanta's internal accruals.

Vedanta plans to complete the acquisition as per the order, within 90 days of the resolution plan approval. The resolution plan was under the Corporate Insolvency Resolution Process, in accordance with the provisions of the Insolvency and Bankruptcy Code (IBC), 2016.

Incab Industries manufactures power cables and industrial wires. It uses copper a

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