vedanta news on delisting

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Vedanta promoters wanted to buy out 169.73 crore shares or 47.67 per cent stake held by the public to delist the firm. If the delisting had garned the required number then promoters could have made a counter offer at more than Rs 150 per share. 7th Pay Commission latest news: Big DA hike coming in January for central government employees, pensioners? Copyright © Zee Media Corporation Ltd. All rights reserved, Senior Citizens Savings Scheme - HDFC Bank vs ICICI Bank: Get higher returns under Special FD plan! After the failed delisting, shares of Vedanta Limited tanked 22% on Monday to trade at Rs 94 per share. Vedanta promoters want to buy out 169.73 crore shares or 47.67 per cent stake held by the public to delist the firm. The trend of companies looking to delist from the bourses appears to be picking up. Subscribe on YouTube. The promoters have raised $ 3.15 billion (about Rs 24,000 crore) to fund the delisting. This funding can support a price of Rs 140-145 per share. After buying out Cairn, Vedanta set in motion the delisting of the cash-rich Cairn India in 2016, and merging it with itself. Similarly, there are other intuitions, that also hold Vedanta shares in bulk. As per the consolidated balance sheet of the company as on March 2020, book value of Vedanta could be Rs 147 per share. Vedanta Delisting With Anil Singhvi: The company is about to finish the process and 55 per cent of the net shares have been tendered till date. We take a look at the process of delisting and the how Vedanta fell short of garnering the threshold amount of 90% of shares of the company, even after public records initially showed that offers by shareholders had crossed that threshold. Mi 10i (5G) priced at Rs 20,999 on launch; get cashback of up to Rs 20,000! Vedanta closed at Rs 122.10 on the BSE on Friday, a gain of 3.83 per cent over the previous close. 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. Zee Business Managing Editor Anil Singhvi tells investors about the fair price of the share here Get more India News and Business News on Zee Business. Vedanta closed at ₹ 122.10 on the BSE on Friday, a gain of 3.83 per cent over the previous close. Vedanta Delisting With Anil Singhvi: The company is about to finish the process and 55 per cent of the net shares have been tendered till date. Sebi delisting rules suggest that counter offer price can not be less than the book value of the company. Remember, those who don't cancel, their bid will be considered accepted at the delisting price even when their bid is much above it.". vedanta delisting news Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. As far as Vedanta shares tender volume is concerned, it will go up when the institutions start tendering and they do it on the last day means tomorrow.". are yet to tender their shareholding. vedanta delisting news Blogs, Comments and Archive News on Economictimes.com So, in that case they might give a counter offer at higher price than the Vedanta delisting price. Vedanta's delisting offer is deemed to have failed in terms of the delisting regulations, the company announced. Check Business Breaking News Live on Zee Business Twitter and Facebook. The market is abuzz with chatter than many other companies are exploring the delisting option.Get latest Business online at cnbctv18.com 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. In May, the promoters of Vedanta had announced the delisting offer at Rs 87.5 per share. By: ... Click here to join our channel and stay updated with the latest Biz news and updates. Vedanta delisting offer garners healthy response; at what price should you tender shares? Vedanta Steps Closer to Delisting, 137.74 Crore Shares Offered in Buyback, Paytm's New Instant Personal Loans Service Will Provide Loans of Up To Rs 2 Lakh Within 2 Mins, Ziva Dhoni's First TV Ad With Dad MS Dhoni Is Winning the Internet, Watch Video, Shahid Kapoor's Kabir Singh Co-star Vanita Kharat Bares it All for Calendar Shoot Promoting Body Positivity, Nashik, Pune, CST and Now Aurangabad: Maharashtra Has a Long Saga of Renaming Cities, Bond Girl Tanya Roberts' Premature Death Announcement a Day Before She Actually Died Has an Important Lesson, Inside Deepika Padukone's Star Studded Birthday Party; See Pics, 'Kuch Kuch Hota Hai' Child Actor Parzaan Dastur Gets Married to Delna Shroff. New Delhi: Vedanta Ltd, the metals to mining conglomerate, may find it tough to survive if its corporate restructuring exercise fails as the group is faced with burgeoning debt on one hand and falling revenues on the other, analysts said. Vedanta announced on Saturday that it had failed to garner the number of shares required to complete its delisting process from the stock market. New Delhi, ZeeBiz WebDesk. Vedanta delisting offer fails, shares to be returned What upset the Vedanta plan is the decision by LIC, which holds 6.37 per cent in Vedanta, to submit all its shares at a price of Rs 320, a 266 per cent premium over the floor price of Rs 87.25 per share. Vedanta delisting update: Promoters get minimum shares required, but bids way above floor price. The promoters have raised $ 3.15 billion (about Rs 24,000 crore) to fund the delisting. The floor price is Rs 87.50 while the closing price is Rs 135. Metals and mining conglomerate Vedanta, on May 12, announced its holding company’s plans to delist the Indian business. To de-list the shares from stock exchanges, Vedanta’s UK promoters required 1.34 billion shares. So, once they start tendering their shares, which they will, then the net tender volume of the Vedanta delisting will shoot up to around 90 per cent by the end of tomorrow markets. On 10th October, Vedanta Ltd became the third company in the past two years to have an unsuccessful delisting, after INEOS Styrolution and Linde India. Vedanta Limited's delisting process starts today and will remain open this week. 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. The holding company — Vedanta Resources — … In a regulatory filing to the Bombay Stock Exchange (BSE), the company stated the following: Out of the 134.1 crore shares that were required to successfully delist, only 125.47 crore bids were confirmed. Earlier this month, Anil Agarwal-promoted Vedanta Limited announced intention to delist from the Indian stock exchanges. Yes Bank, Gland Pharma, Adani Enterprises, PI Industries, Jubilant Foodworks to Hindustan Agro - Mutual funds stock classification changed; full list inside. Till 09:23 am, a combined 2.4 million equity shares had changed hands on the NSE and BSE. "The total number of Offer Shares validly tendered by the Public Shareholders in the Delisting Offer is 1,25,47,16,610 Offer Shares, which is less than the minimum number of Offer Shares required to be accepted by the Acquirers in order for the Delisting Offer to be successful," the statement added. Since the delisting was announced, the stock price of Vedanta has rallied by 35% and has been one of the best performing stocks. hold bulk of Vedanta shares and once they start tendering them, it will start reflecting in the net tender volume at very fast rate. As of a June filing, the Life Insurance Corporation owned 23.67 crore Vedanta shares amounting to a 6.37% stake. Jun 17, 2020 12:06 IST | India Infoline News Service A + A - The reverse book building process started on October 5. This funding can support a price of Rs 140-145 per share. Most numbers of 21.51 crore shares were offered at a price of Rs 160 per share, followed by 18.9 crore shares at Rs 145 and another 10.87 crore shares being offered at a price of Rs 153 apiece. The Market Guru said that institutions will tender their shares from 12:00 noon tomorrow and by the end of 3:30 PM net tendered shares would shoot up sharply as institutions hold bulk of shares and their surrender will reflect in the volumes at a faster rate. 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. File photo of Vedanta logo (Image : Reuters). The company is now to accept the shares and declare a buyback price. The delisting will be done on the stock exchanges via the process of reverse book building, which will enable eventual price discovery. How should the investors see this? New Delhi: You must have recently heard the news of Vedanta delisting. Vedanta Ltd's delisting went from almost-a-success to failure on account of a large quantity of unconfirmed orders, forcing the company to look for options to extend the buyback period by a day. The Zee Business Managing Editor went on to add that once the delisting is complete, promoters' role will come into play as they may tend to give counter offer in case they are not satisfied with the delisting. A large number of unconfirmed bids and some technical glitches in the tender process are likely to have contributed to the failure. The meeting is scheduled for May 18. May 12, announced its holding company ’ s UK promoters required billion... 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