Big news for investors! Vedanta Limited will not be delisted from the stock market. Business – News in Hindi

0
43


Vedanta Group’s delisting offer has failed. Therefore, the company will now be listed on the Indian stock market.

Vedanta Limited (Vedanta Ltd.) brought a delisting offer on 5 October to expel its listing from the Indian stock market. For this, the Open Bid closed on Friday. The company was not able to buyback the shares required for delisting and its offer failed. In such a situation, the company will now remain listed on the Indian Stock Exchanges.

  • News18No
  • Last Updated:October 11, 2020, 3:48 PM IS

new Delhi. Vedanta Limited brought a delisting offer from the Indian Share Market to end its listing. The delisting offer of this company controlled by Anil Agarwal has failed. The company will now be listed on the Indian stock market. This is considered as a big win for the shareholders of the company. Vedanta said in a stock exchange filing on Saturday that the delisting offer of the company has failed. An advertisement in this regard will be issued on Sunday and information will be given to investors.

Vedanta Limited gets bid for 125.47 crore shares
In the information given to the stock exchange, Vedanta has said that the company received bids for 125.47 crore shares, while it needed 134 crore shares to become a delist from the stock market. In this case, this offer of the company has failed. The company then sought a day’s time from market regulator Sebi (SEBI) to delist itself, but it was refused additional time. On Friday, SEBI increased the time for delisting offers to 7 pm. If the promoters of Vedanta had bought 134 crore shares out of the total 169.73 crore shares held by the shareholders, that is, the listing of the company would have ended from the stock market.

read this also- The rules regarding driving license are changing again! Center issued draft notificationVedanta wanted 134.12 crore shares for delisting

Vedanta said that it received bids for 125.47 crore shares from open bid on October 5, which has closed on Friday. The company needed 134.12 crore shares for delisting. After this, the promoters’ holding would have been more than 90 percent, which was necessary for delisting as per Sebi rules. The company said that it is not buying the shares offered by the public. Therefore, the company will still be listed on the stock exchange. The total number of fully paid up shares of Vedanta is 356.10 crore. It accounted for 90 percent of 320.49 crore shares. Of this, the promoters own 186.36 crore shares. At the same time, Public has 169.73 crore shares.

read this also- These entrepreneurs, including Savitri Jindal-Kiran Mazumdar Shaw, included in Forbes’s list of rich Indian women, see pics

Institutional investors including LIC spoil the game
Anil Aggarwal has been trying to get the company delisted for 6 months. The company offered the delist at Rs 87.25. At the time of the offer, the price of one share of the company was Rs 140. Today it is at 120 rupees. In such a situation, along with retail investors, institutional investors were also incurring huge losses in delisting. LIC imposed the biggest obstacle in delisting Vedanta. LIC bid at Rs 320 per share. It has more than 6 per cent stake in Vedanta. Some other institutional investors also bid at Rs 155 to 175. In this way, the price that Vedanta got was more than today’s share price, while the offer price was Rs 87.25.



LEAVE A REPLY

Please enter your comment!
Please enter your name here