Check details, Tiger Shroff drops first look of new single ''Casanova''. vedanta delisting news Blogs, Comments and Archive News on Economictimes.com Vedanta Delisting: Best for retail investors to bide time Vedanta delisting: 17.15 crore shares are tendered so far Promoters could have made a … To delist, Vedanta would need the board’s approval. If the delisting had garned the required number then promoters could have made a counter offer at more than Rs 150 per share. Check Business Breaking News Live on Zee Business Twitter and Facebook. Remember, those who don't cancel, their bid will be considered accepted at the delisting price even when their bid is much above it.". 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. Jun 17, 2020 12:06 IST | India Infoline News Service A + A - 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. In a stock exchange filing, Vedanta has made a delisting offer for Vedanta Ltd (VEDL), where it holds 50.1 per cent effective stake, ... ©2021 the news minute. 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. The trend of companies looking to delist from the bourses appears to be picking up. 7th Pay Commission latest news: Big DA hike coming in January for central government employees, pensioners? 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.". Subscribe on YouTube. The shares of Vedanta Resources fell nearly a percent and a half on Tuesday morning (May 19) after the Board of Directors approved the delisting of the stock at ₹87.5 a piece. 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 delisting offer garners healthy response; at what price should you tender shares? 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. Metals and mining conglomerate Vedanta, on May 12, announced its holding company’s plans to delist the Indian business. hold bulk of Vedanta shares and once they start tendering them, it will start reflecting in the net tender volume at very fast rate. So, in that case they might give a counter offer at higher price than the Vedanta delisting price. Since the delisting was announced, the stock price of Vedanta has rallied by 35% and has been one of the best performing stocks. The company is now to accept the shares and declare a buyback price. New Delhi, ZeeBiz WebDesk. Vedanta delisting update: Promoters get minimum shares required, but bids way above floor price. The holding company — Vedanta Resources — … The reverse book building process started on October 5. 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. The meeting is scheduled for May 18. Last week, Vedanta Ltd's delisting went from almost-a-success to failure due to a large number of unconfirmed orders. 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Yes Bank, Gland Pharma, Adani Enterprises, PI Industries, Jubilant Foodworks to Hindustan Agro - Mutual funds stock classification changed; full list inside. 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. "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. See Zee Business Live TV streaming below: On how institutions hold key to Vedanta delisting success, Singhvi said, "Big institutions like LIC, ICICI Prudential, HDFC Equity, Citi Bank, etc. After the failed delisting, shares of Vedanta Limited tanked 22% on Monday to trade at Rs 94 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. The delisting at the indicative price would cost $2.2 billion and we believe funding would be possible based on potential additional annual dividend income of $500 million,” said Kotak Institutional Equities. 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