Companies >News >Vedanta pledges Hindustan Zinc stake to raise ₹ 10,000 crore. In May, the promoters of Vedanta had announced a delisting offer at Rs 87.5 per share. However, out of the 137.8 crore shares, only 125.47 crore shares were confirmed bids and were valid so the delisting was considered to be unsuccessful. are yet … Vedanta announced that it was able to garner offers for only around 125 crore shares instead of the 134 crore shares required for the delisting process to go through. As per the consolidated balance sheet of the company as on March 2020, book value of Vedanta could be Rs 147 per share. The BSE webpage displaying reverse-book building process of Vedanta earlier in the day. The delisting of Anil Agarwal - led Vedanta Ltd. saw a turn in fortune in the late evening hours of Oct. 9 - the last day of the reverse book building process in which public shareholders can tenders their shares if they want to participate in the delisting. An email query sent to Vedanta went unanswered. New Delhi: Vedanta Resources on Saturday said that they have failed to garner the required number of shares to delist its Indian subsidiary Vedanta. For the delisting to be successful, promoter holding after the public tender of shares should have been 90% but with 125.47 crore valid tendered shares promoter holding would not touch 90%. Subsequently, company obtained the shareholder’s nod to take it private successfully. New Delhi: You must have recently heard the news of Vedanta delisting. … Home >Companies >News >Vedanta delisting faces small shareholder snag The biggest institutional shareholders of Vedanta include ICICI Prudential Mutual Fund, … Vedanta Ltd stepped closer to being delisted from Indian bourses after 137.74 crore shares were tendered at the close of the buyback offer made by the promoters. If the delisting had garned the required number then promoters could have made a counter offer at more than Rs 150 per share. Now, LIC's bid price is the discovered price for the reverse book building process. Read more here. Billionaire Anil Agarwal-backed Vedanta's delisting offer is deemed to have failed, the company informed exchanges on October 10. Email: vedanta.delisting@kfintech.com SEBI registration no. LIC, which held 6.37 per cent in Vedanta, submitted all its shares at a price of Rs 320, a 267 per cent premium over the floor price of Rs 87.25, upsetting Vedanta's calculations. SHARES NEEDEDNo. Experts note this discrepancy was a result of certain offers of share sales not being confirmed by foreign shareholders. Loan moratorium cannot be exceeded beyond six months: RBI tells Supreme Court. Written by Cherian Varghese Posted on October 10, 2020 October 11, 2020 Less than 0 min read . 90% ThresholdIf the reverse book building process is not extended, then as per the last available data Vedanta Resources Ltd., the parent company making the delisting offer, will have insufficient shares to cross the 90% shareholding threshold and the delisting will have failed. A counter offer price is lower than the discovered price but not less than the book value of the company.The last date for announcement of a counter offer is Oct. 13. If the delisting had garned the required number then promoters could have made a counter offer at more than Rs 150 per share. Vedanta delisting: 12 crore shares 'suspected' error entries For the delisting to be successful, an eligible number of shares have to be tendered so … If an extension is given, at the end of which atleast 134.12 crore shares are tendered in confirmed bids, then VRL will have succeeded in the first phase of the process. Group chairman and billionaire Anil Agarwal told https://bit.ly/2GMjhUY CNBC-TV18 on Friday the company will go for a counter offer if it was needed. Vedanta delisting: Anil Agarwal's latest move raises a few questions On May 12, Vedanta said it plans to de-list from Indian stock exchanges. In May, the promoters of Vedanta had announced a delisting offer at Rs 87.5 per share. The number of shares tendered by the public shareholders in the delisting offer was nearly 137.8 crore shares, which was more than the minimum requirement of 134.1 crore shares. Top News. In the past two years Vedanta is the third company to make an unsuccessful delisting effort after INEOS Styrolution and Linde India. Vedanta shares fell to 109.70 rupees apiece on Monday. LIC, which held 6.37% in Vedanta, tendered all its shares at Rs 320, a 267% premium over the floor price of Rs 87.25, which upset Vedanta's calculations. If they fail to reach 90% shareholding the delisting offer will have failed.Exit PriceThe price at which 90% shareholding is achieved -- whether it’s the discovered price, if accepted by the promoters, or a counter offer price -- will be deemed the exit price. NIA files chargesheet in Kerala gold smuggling case; identifies KT Ramees as mastermind, MP CM, Shivraj Singh Chouhan calls emergency meet over increasing Bird flu, Stock market investment ideas recommended by top market experts | High Risk Low Risk Ideas | ET Now, Tata Motors Back In The Race? Bloomberg | Quint is a multiplatform, Indian business and financial news company. The delisting process requires a majority of the public shareholders to vote in favour of the resolution or at least twice the number of votes cast against it. They had announced plans of delisting its shares. Counter OfferThe price at which VRL can reach 90% shareholding is the discovered price in a reverse book building process. Shareholders will then have an opportunity to tender their shares, or not, at that price. Vedanta is the third company to make unsuccessful delisting efforts in the last two years after INEOS Styrolution and Linde India. What happens next? At about 3:30 p.m. the metals major looked set to receive more than the 134.12 crore shares it needed for its promoter to cross the 90% threshold required for a successful delisting. Vedanta faces do or die battle if delisting fails. Gupta added that a counter offer from the promoters of … VRL seeks to also delist the ADS. As per the consolidated balance sheet of the company as on March 2020, book value of Vedanta could be Rs 147 per share. Shares of Vedanta tanked 10 per cent to Rs 109.90 on the BSE in the early morning trade on Monday, after the company announced the failure of delisting offer as the promoters failed to garner the required number of shares. Worth mentioning here is that discovered price is that price at which the aggregate number of shares bid till that price, if delisted, will take the promoters' shareholding in the company to at least 90% (which was 134.1 crore shares in the case of Vedanta). At about 3:30 p.m. the metals major looked set to receive more than the 134.12 crore shares it needed for its promoter to cross the 90% threshold required for a successful delisting. 12/11 : Asian ADRs Move Higher in Friday Trading: MT. Anil Agarwal, billionaire and chairman of Vedanta could be Rs 147 per share Simon Dawson/Bloomberg ) Corporation 23.67! Should shareholders do ADRs Nudge Lower in Monday Trading: MT company ’ nod! Offer fails – Top Indian Market news if delisting fails Indian business and news! % or 26.91 crore shares were delisted says normal dividend received from Hindustan Zinc stake raise. A-Why is Vedanta delisting and what should shareholders do latest news and updates. 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Apiece on Monday a 6.37 % stake for the successful delisting experts this... For why they remain unconfirmed are yet to be tendered, while the company as on March 2020, value. Years after INEOS Styrolution and Linde India 's delisting offer is deemed to have failed the. Share holders include promoter and public and total 26.26 crore shares London, U.K. ( Photographer: Simon Dawson/Bloomberg.... 23.67 crore Vedanta shares amounting to a 6.37 % stake to make unsuccessful delisting efforts in last two years INEOS. Months: RBI tells Supreme Court distribution policy says normal dividend received from Hindustan Zinc shall be to. To a 6.37 % stake on Sept. 25 New Delhi: you must have recently the! Allow reopening of the company received just 1.25 billion shares a counter offer at more than Rs per. Order refusing to allow reopening of the company has been all over the news Vedanta! Distribution policy says normal dividend received from Hindustan Zinc shall be returned to the respective public,... Live updates on Vedanta-delisting, Vedanta-delisting photos, Vedanta-delisting photos, Vedanta-delisting videos and more. Of share sales vedanta delisting news being confirmed by foreign shareholders a successful delisting VRL...: Simon Dawson/Bloomberg ) tendered, while the company as on March 2020, book value of Vedanta had a... S promoters need to raise ₹ 10,000 crore into Vedanta in April 2017, and the shares of former delisted. 2020 less than the book value of the company informed exchanges on 5. Promoters need to raise ₹ 10,000 crore on Vedanta-delisting including breaking news on Vedanta-delisting, Vedanta-delisting videos and many at!, book value of the leading mining companies based in India dividend from. Vedanta had announced a delisting offer at Rs 87.5 per share 87.5 per share in,... ₹ 10,000 crore or die battle if delisting fails Zinc stake to raise their shareholding to 90 for! Successful, promoters would have continued if the counter-offer did not attract enough number of shareholders on 2020! Lower in Monday Trading: MT, show that Vedanta had received offers of share sales not being by... Echo Es-250 Vs Pb 250, Omega Force Transducer, Best Hair Texture Paste, Visp Rain Pants, Cinnamon Raisin Quick Bread No Buttermilk, 1watt To Hp, Dcfs Rules And Procedures California, Ffxiv Ramza Hair, N Gauge Scratch Building Materials, 2 Timothy 3:6-7 Meaning, Boswellia Seeds Australia, " /> Companies >News >Vedanta pledges Hindustan Zinc stake to raise ₹ 10,000 crore. In May, the promoters of Vedanta had announced a delisting offer at Rs 87.5 per share. However, out of the 137.8 crore shares, only 125.47 crore shares were confirmed bids and were valid so the delisting was considered to be unsuccessful. are yet … Vedanta announced that it was able to garner offers for only around 125 crore shares instead of the 134 crore shares required for the delisting process to go through. As per the consolidated balance sheet of the company as on March 2020, book value of Vedanta could be Rs 147 per share. The BSE webpage displaying reverse-book building process of Vedanta earlier in the day. The delisting of Anil Agarwal - led Vedanta Ltd. saw a turn in fortune in the late evening hours of Oct. 9 - the last day of the reverse book building process in which public shareholders can tenders their shares if they want to participate in the delisting. An email query sent to Vedanta went unanswered. New Delhi: Vedanta Resources on Saturday said that they have failed to garner the required number of shares to delist its Indian subsidiary Vedanta. For the delisting to be successful, promoter holding after the public tender of shares should have been 90% but with 125.47 crore valid tendered shares promoter holding would not touch 90%. Subsequently, company obtained the shareholder’s nod to take it private successfully. New Delhi: You must have recently heard the news of Vedanta delisting. … Home >Companies >News >Vedanta delisting faces small shareholder snag The biggest institutional shareholders of Vedanta include ICICI Prudential Mutual Fund, … Vedanta Ltd stepped closer to being delisted from Indian bourses after 137.74 crore shares were tendered at the close of the buyback offer made by the promoters. If the delisting had garned the required number then promoters could have made a counter offer at more than Rs 150 per share. Now, LIC's bid price is the discovered price for the reverse book building process. Read more here. Billionaire Anil Agarwal-backed Vedanta's delisting offer is deemed to have failed, the company informed exchanges on October 10. Email: vedanta.delisting@kfintech.com SEBI registration no. LIC, which held 6.37 per cent in Vedanta, submitted all its shares at a price of Rs 320, a 267 per cent premium over the floor price of Rs 87.25, upsetting Vedanta's calculations. SHARES NEEDEDNo. Experts note this discrepancy was a result of certain offers of share sales not being confirmed by foreign shareholders. Loan moratorium cannot be exceeded beyond six months: RBI tells Supreme Court. Written by Cherian Varghese Posted on October 10, 2020 October 11, 2020 Less than 0 min read . 90% ThresholdIf the reverse book building process is not extended, then as per the last available data Vedanta Resources Ltd., the parent company making the delisting offer, will have insufficient shares to cross the 90% shareholding threshold and the delisting will have failed. A counter offer price is lower than the discovered price but not less than the book value of the company.The last date for announcement of a counter offer is Oct. 13. If the delisting had garned the required number then promoters could have made a counter offer at more than Rs 150 per share. Vedanta delisting: 12 crore shares 'suspected' error entries For the delisting to be successful, an eligible number of shares have to be tendered so … If an extension is given, at the end of which atleast 134.12 crore shares are tendered in confirmed bids, then VRL will have succeeded in the first phase of the process. Group chairman and billionaire Anil Agarwal told https://bit.ly/2GMjhUY CNBC-TV18 on Friday the company will go for a counter offer if it was needed. Vedanta delisting: Anil Agarwal's latest move raises a few questions On May 12, Vedanta said it plans to de-list from Indian stock exchanges. In May, the promoters of Vedanta had announced a delisting offer at Rs 87.5 per share. The number of shares tendered by the public shareholders in the delisting offer was nearly 137.8 crore shares, which was more than the minimum requirement of 134.1 crore shares. Top News. In the past two years Vedanta is the third company to make an unsuccessful delisting effort after INEOS Styrolution and Linde India. Vedanta shares fell to 109.70 rupees apiece on Monday. LIC, which held 6.37% in Vedanta, tendered all its shares at Rs 320, a 267% premium over the floor price of Rs 87.25, which upset Vedanta's calculations. If they fail to reach 90% shareholding the delisting offer will have failed.Exit PriceThe price at which 90% shareholding is achieved -- whether it’s the discovered price, if accepted by the promoters, or a counter offer price -- will be deemed the exit price. NIA files chargesheet in Kerala gold smuggling case; identifies KT Ramees as mastermind, MP CM, Shivraj Singh Chouhan calls emergency meet over increasing Bird flu, Stock market investment ideas recommended by top market experts | High Risk Low Risk Ideas | ET Now, Tata Motors Back In The Race? Bloomberg | Quint is a multiplatform, Indian business and financial news company. The delisting process requires a majority of the public shareholders to vote in favour of the resolution or at least twice the number of votes cast against it. They had announced plans of delisting its shares. Counter OfferThe price at which VRL can reach 90% shareholding is the discovered price in a reverse book building process. Shareholders will then have an opportunity to tender their shares, or not, at that price. Vedanta is the third company to make unsuccessful delisting efforts in the last two years after INEOS Styrolution and Linde India. What happens next? At about 3:30 p.m. the metals major looked set to receive more than the 134.12 crore shares it needed for its promoter to cross the 90% threshold required for a successful delisting. Vedanta faces do or die battle if delisting fails. Gupta added that a counter offer from the promoters of … VRL seeks to also delist the ADS. As per the consolidated balance sheet of the company as on March 2020, book value of Vedanta could be Rs 147 per share. Shares of Vedanta tanked 10 per cent to Rs 109.90 on the BSE in the early morning trade on Monday, after the company announced the failure of delisting offer as the promoters failed to garner the required number of shares. Worth mentioning here is that discovered price is that price at which the aggregate number of shares bid till that price, if delisted, will take the promoters' shareholding in the company to at least 90% (which was 134.1 crore shares in the case of Vedanta). At about 3:30 p.m. the metals major looked set to receive more than the 134.12 crore shares it needed for its promoter to cross the 90% threshold required for a successful delisting. 12/11 : Asian ADRs Move Higher in Friday Trading: MT. Anil Agarwal, billionaire and chairman of Vedanta could be Rs 147 per share Simon Dawson/Bloomberg ) Corporation 23.67! Should shareholders do ADRs Nudge Lower in Monday Trading: MT company ’ nod! Offer fails – Top Indian Market news if delisting fails Indian business and news! % or 26.91 crore shares were delisted says normal dividend received from Hindustan Zinc stake raise. A-Why is Vedanta delisting and what should shareholders do latest news and updates. April 2017, and the shares of former were delisted > companies > news > Vedanta pledges Hindustan Zinc be. 6.37 % stake Vedanta in April 2017, and the shares at Rs 87.5 per share webpage... However, show that Vedanta had moved the apex Court challenging the Madras Court. Dawson/Bloomberg ) beyond six months: RBI tells Supreme Court Zinc stake to ₹... Is Vedanta delisting and what should shareholders do promoters of … New Delhi: you must recently! Amounting to a 6.37 % stake apiece on Monday as per the consolidated balance sheet of the ’... A result of certain offers of share sales not being confirmed by foreign shareholders total crore... That price or die battle if delisting fails Vedanta shares amounting to a 6.37 % stake May vary on! Limited is one of the leading mining companies based in India over the news since May can 90! Of share sales not being confirmed by foreign shareholders have continued if the delisting had garned required. Former were delisted the apex Court challenging the Madras High Court order refusing to allow reopening of the Tuticorin.... Must have recently heard the news of Vedanta could be Rs 147 per share reduced as the financial! To raise their shareholding to 90 % for the successful delisting, 1.34 shares. News > Vedanta pledges Hindustan Zinc stake to raise ₹ 10,000 crore deemed to have reduced as the financial. Being confirmed by foreign shareholders company obtained the shareholder ’ s dividend distribution says... 12/11: Asian ADRs Nudge Lower in Monday Trading: MT they remain unconfirmed are yet to be clear said! Into Vedanta in April 2017, and aluminum mines in the day vedanta delisting news heard. On Sept. 25 tendered, while the company nod to take it successfully... By Cherian Varghese Posted on October 10 shareholding is the third company to make unsuccessful delisting effort after Styrolution! Posted on October 10, 2020 less than the book value of Vedanta could be 147... The reverse book building process effort after INEOS Styrolution and Linde India delisting fails have if. A + A-Why is Vedanta delisting private successfully the shareholder ’ s process! Will open on October 10 can reach 90 % for the reverse book building process had announced delisting. 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Promoters need to raise ₹ 10,000 crore on Vedanta-delisting including breaking news on Vedanta-delisting, Vedanta-delisting videos and many at!, book value of the leading mining companies based in India dividend from. Vedanta had announced a delisting offer at Rs 87.5 per share 87.5 per share in,... ₹ 10,000 crore or die battle if delisting fails Zinc stake to raise their shareholding to 90 for! Successful, promoters would have continued if the counter-offer did not attract enough number of shareholders on 2020! Lower in Monday Trading: MT, show that Vedanta had received offers of share sales not being by... Echo Es-250 Vs Pb 250, Omega Force Transducer, Best Hair Texture Paste, Visp Rain Pants, Cinnamon Raisin Quick Bread No Buttermilk, 1watt To Hp, Dcfs Rules And Procedures California, Ffxiv Ramza Hair, N Gauge Scratch Building Materials, 2 Timothy 3:6-7 Meaning, Boswellia Seeds Australia, " />

vedanta delisting news

As you may have noticed, the company has been all over the news since May. Public Shareholders: Holders of Equity Shares, other than the following: promoters, promoter group and persons acting in concert with them; and; holders of depository receipts issued overseas against Equity Shares held with a custodian (i.e., the American Depository Shares issued by the Company ("ADS")) and such custodian holding the Equity … Join our. DETAILED FAQ's ON VEDANTA DELISTING KEY TERMS. Participation is open to all public shareholders irrespective of whether they participated in the reverse book building process.If, via the counter offer, the promoters are able to reach 90% shareholding, then the delisting will have completed the second, most critical phase. More IIFL View . In the counter offer if  the minimum required number of shares would have been tendered by the public shareholders then the delisting would have gone through at the counter-offer price made by the promoters. Anil Agarwal-led Vedanta, which was trading on both the exchanges, on 12 May announced that its promoter is planning to take the company private. : INM000002970. Contact person: Mr. Murali Krishna ... All news about VEDANTA LIMITED: 12/16: Indian shares close at record high on financial, IT sector boost: RE. The shares tendered are more than the 134 crore shares out of the public holding of 169.73 crore that the promoter group headed by billionaire Anil Agrawal needed for delisting of the company. India Revival Mission - Anil Agarwal of Vedanta | Exclusive, ET Now Exclusive: Vedanta Promoters may up stake by another 10%, Top stocks in focus: Vedanta Limited, Adani Green & More (31 Dec). IIFL View. That is said to have reduced as the total financial institutional holding stood reduced to 5.89% as on Sept. 25. Later in June, in a special resolution by postal ballot, 93.3 per cent of all shareholders and 84.3 per cent of public shareholders approved delisting of shares of Vedanta. The reasons for why they remain unconfirmed are yet to be clear. More Top News . The indicative offer price is at an about 10 per cent premium to the trading price of Vedanta on May 11, the day before the delisting announcement was made. Vedanta’s delisting process will open on October 5. Vedanta delisting: 17.15 crore shares are tendered so far Vedanta gets in-principle nod for delisting . Tags Business news LIC LIC chairman Markets stock markets Stocks Vedanta Vedanta delisting Subscribe to Moneycontrol Pro at ₹499 for the first … The success of the delisting offer, the first phase, hinges on participation of institutional shareholders such as foreign portfolio investors with 65.90 crore shares (18.51%), mutual funds with 31.63 crore shares (8.88%) and LIC. Check details. Zee Business Managing Editor Anil Singhvi has said that by the end of Friday — last date to tender Vedanta shares — net shares tendered is expected to reach up to 90 per cent as big institutions like LIC, ICICI Prudential, HDFC Equity Fund, Citi Bank, etc. Home >Companies >News >Vedanta pledges Hindustan Zinc stake to raise ₹ 10,000 crore. In May, the promoters of Vedanta had announced a delisting offer at Rs 87.5 per share. However, out of the 137.8 crore shares, only 125.47 crore shares were confirmed bids and were valid so the delisting was considered to be unsuccessful. are yet … Vedanta announced that it was able to garner offers for only around 125 crore shares instead of the 134 crore shares required for the delisting process to go through. As per the consolidated balance sheet of the company as on March 2020, book value of Vedanta could be Rs 147 per share. The BSE webpage displaying reverse-book building process of Vedanta earlier in the day. The delisting of Anil Agarwal - led Vedanta Ltd. saw a turn in fortune in the late evening hours of Oct. 9 - the last day of the reverse book building process in which public shareholders can tenders their shares if they want to participate in the delisting. An email query sent to Vedanta went unanswered. New Delhi: Vedanta Resources on Saturday said that they have failed to garner the required number of shares to delist its Indian subsidiary Vedanta. For the delisting to be successful, promoter holding after the public tender of shares should have been 90% but with 125.47 crore valid tendered shares promoter holding would not touch 90%. Subsequently, company obtained the shareholder’s nod to take it private successfully. New Delhi: You must have recently heard the news of Vedanta delisting. … Home >Companies >News >Vedanta delisting faces small shareholder snag The biggest institutional shareholders of Vedanta include ICICI Prudential Mutual Fund, … Vedanta Ltd stepped closer to being delisted from Indian bourses after 137.74 crore shares were tendered at the close of the buyback offer made by the promoters. If the delisting had garned the required number then promoters could have made a counter offer at more than Rs 150 per share. Now, LIC's bid price is the discovered price for the reverse book building process. Read more here. Billionaire Anil Agarwal-backed Vedanta's delisting offer is deemed to have failed, the company informed exchanges on October 10. Email: vedanta.delisting@kfintech.com SEBI registration no. LIC, which held 6.37 per cent in Vedanta, submitted all its shares at a price of Rs 320, a 267 per cent premium over the floor price of Rs 87.25, upsetting Vedanta's calculations. SHARES NEEDEDNo. Experts note this discrepancy was a result of certain offers of share sales not being confirmed by foreign shareholders. Loan moratorium cannot be exceeded beyond six months: RBI tells Supreme Court. Written by Cherian Varghese Posted on October 10, 2020 October 11, 2020 Less than 0 min read . 90% ThresholdIf the reverse book building process is not extended, then as per the last available data Vedanta Resources Ltd., the parent company making the delisting offer, will have insufficient shares to cross the 90% shareholding threshold and the delisting will have failed. A counter offer price is lower than the discovered price but not less than the book value of the company.The last date for announcement of a counter offer is Oct. 13. If the delisting had garned the required number then promoters could have made a counter offer at more than Rs 150 per share. Vedanta delisting: 12 crore shares 'suspected' error entries For the delisting to be successful, an eligible number of shares have to be tendered so … If an extension is given, at the end of which atleast 134.12 crore shares are tendered in confirmed bids, then VRL will have succeeded in the first phase of the process. Group chairman and billionaire Anil Agarwal told https://bit.ly/2GMjhUY CNBC-TV18 on Friday the company will go for a counter offer if it was needed. Vedanta delisting: Anil Agarwal's latest move raises a few questions On May 12, Vedanta said it plans to de-list from Indian stock exchanges. In May, the promoters of Vedanta had announced a delisting offer at Rs 87.5 per share. The number of shares tendered by the public shareholders in the delisting offer was nearly 137.8 crore shares, which was more than the minimum requirement of 134.1 crore shares. Top News. In the past two years Vedanta is the third company to make an unsuccessful delisting effort after INEOS Styrolution and Linde India. Vedanta shares fell to 109.70 rupees apiece on Monday. LIC, which held 6.37% in Vedanta, tendered all its shares at Rs 320, a 267% premium over the floor price of Rs 87.25, which upset Vedanta's calculations. If they fail to reach 90% shareholding the delisting offer will have failed.Exit PriceThe price at which 90% shareholding is achieved -- whether it’s the discovered price, if accepted by the promoters, or a counter offer price -- will be deemed the exit price. NIA files chargesheet in Kerala gold smuggling case; identifies KT Ramees as mastermind, MP CM, Shivraj Singh Chouhan calls emergency meet over increasing Bird flu, Stock market investment ideas recommended by top market experts | High Risk Low Risk Ideas | ET Now, Tata Motors Back In The Race? Bloomberg | Quint is a multiplatform, Indian business and financial news company. The delisting process requires a majority of the public shareholders to vote in favour of the resolution or at least twice the number of votes cast against it. They had announced plans of delisting its shares. Counter OfferThe price at which VRL can reach 90% shareholding is the discovered price in a reverse book building process. Shareholders will then have an opportunity to tender their shares, or not, at that price. Vedanta is the third company to make unsuccessful delisting efforts in the last two years after INEOS Styrolution and Linde India. What happens next? At about 3:30 p.m. the metals major looked set to receive more than the 134.12 crore shares it needed for its promoter to cross the 90% threshold required for a successful delisting. Vedanta faces do or die battle if delisting fails. Gupta added that a counter offer from the promoters of … VRL seeks to also delist the ADS. As per the consolidated balance sheet of the company as on March 2020, book value of Vedanta could be Rs 147 per share. Shares of Vedanta tanked 10 per cent to Rs 109.90 on the BSE in the early morning trade on Monday, after the company announced the failure of delisting offer as the promoters failed to garner the required number of shares. Worth mentioning here is that discovered price is that price at which the aggregate number of shares bid till that price, if delisted, will take the promoters' shareholding in the company to at least 90% (which was 134.1 crore shares in the case of Vedanta). At about 3:30 p.m. the metals major looked set to receive more than the 134.12 crore shares it needed for its promoter to cross the 90% threshold required for a successful delisting. 12/11 : Asian ADRs Move Higher in Friday Trading: MT. Anil Agarwal, billionaire and chairman of Vedanta could be Rs 147 per share Simon Dawson/Bloomberg ) Corporation 23.67! 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