vedanta delisting news today

The next buyback for Vedanta, if at all it happens, could be at around Rs 225, says Deven R Choksey. The nod came after it reviewed the due diligence report submitted by SBI Capital Markets. Vedanta’s delisting process will open on October 5. Promoter holding in the company stood at 50.14 per cent, while public shareholders held 49.46 per cent as per March-end shareholding data. Vedanta Delisting Update: Today is the last date for tendering Vedanta shares for delisting bid but the bidders are unable to bid as there was a problem with the BSE website today. This comes at a time when in the month of September, Bloomberg news channel said that Vedanta has started approaching potential investors for the proposed India Direct Investment fund, which will buy stakes in government companies being sold as part of the country’s divestment program. +Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. Vedanta delisting: 17.15 crore shares are tendered so far Vedanta gets in-principle nod for delisting Only 125 cr shares received against 134 cr required, BSE data show Vedanta is the third company to make unsuccessful delisting efforts in the last two years after INEOS Styrolution and Linde India. Days Trial Aditya Birla Sun Life Tax Relief 96 Direct-Growt.. Vedanta delisting: Anil Agarwal may come up with a counter offer. Mumbai: Promoters of Anil Agarwal-led Vedanta Ltd has pledged and encumbered their entire stake of 55.11% equity with OCM Verde Investment in order to fund Vedanta Resources’ outstanding debt of $900 million and for acquisition of up to 11.5% shares in Vedanta Ltd by the promoter group, Vedanta Mauritius Limited, the company said. Let's reshape it today, Hunt for the brightest engineers in India. Vedanta Group requires another 7.62 crore shares for the delisting to succeed. As you may have noticed, the company has been all over the news since May. Download The Economic Times News App to get Daily Market Updates & Live Business News. “The next path is unclear. Get more India News and Business News on Zee Business. Join financial experts to secure your golden years with early planning. They had announced plans of delisting its shares. After the failed delisting, shares of Vedanta Limited tanked 22% on Monday to trade at Rs 94 per share. In a late evening stock exchange filing, billionaire Anil Agarwal’s company announced the decision by its parent Vedanta Resources. Vedanta delisting through reverse book building process is going to end today at 3:30 PM. Your Reason has been Reported to the admin. ICICI Prudential Bluechip Fund Direct-Growth. How should the investors see this? Vedanta shares were down 9.99 per cent at Rs 109.90 on the BSE, while benchmark Sensex was … In fact, quite shameful. NEW DELHI: Vedanta Ltd on Saturday said its board has approved the first interim dividend of Rs 9.50 per equity share for the current fiscal amounting to Rs 3,500 crore. The holding company — Vedanta Resources — … The company fixed October 5 as bid opening date for delisting offer and October 8 for upward revision or withdrawal of bids. In May, billionaire Anil Agarwal-owned Vedanta announced a delisting offer at ₹87.5 a share but failed to garner minimum required shares to make the buyback a success. Vedanta Delisting: Best for retail investors to bide time Vedanta delisting: 17.15 crore shares are tendered so far Promoters could have made a … Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. "All equity shares tendered in the delisting offer shall be returned to the respective public shareholders," Vedanta further announced. What a shame. Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. 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… For reprint rights: Why Sebi needs to probe Vedanta delisting fiasco, Vedanta delisting failure: What brokerages say, Twist in Vedanta delisting after LIC raises cost, Vedanta Delisting: Share tendering dismal so far, Vedanta delisting fails; company to return all the shares tendered, Which mutual fund offered shares at lower price? 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… Read latest news and live updates on Vedanta-delisting including breaking news on Vedanta-delisting,Vedanta-delisting photos,Vedanta-delisting videos and many more at cnbctv18.com. The promoters failed to secure the required number of … 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. "Launching the delisting bid to garner approx 134 crore shares was indeed a mammoth task. Choose your winners rationally in 3 simple steps! Hexaware public shareholders who have tendered their equity shares at or below the exit price will be paid a consideration of Rs 475 per share. As the delisting efforts of the company became unsuccessful, the equity shares tendered by the public shareholders will be returned by october 23, 2020. Vedanta Resources, the parent, has mobilised USD 3.15 billion for the delisting exercise, resulting in total debt of the group swelling to over Rs 1,25,000 crore. Mumbai: Mining major Vedanta is set to take the company private. For reprint rights: CBSE board exams to start on 4th May; practical exams to begin in March, Over Rs 70,000 crore economic loss in Q3 due to farmers' agitation: PHDCCI, AU SMALL FINANCE BANK | Target Price: Rs 1,100. On the final day of the reverse book building process, Anil Agarwal’s Vedanta Group received bids for 137.46 crores shares at various prices as the mining major looked to go off the bourses. Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. Ford pulls plug on plans to cede India business to Mahindra, cites pandemic, China's bottled water king Zhong Shanshan replaces Mukesh Ambani as Asia's richest person, HCL TECHNOLOGIES | Target Price: Rs 1,105, Mumbai property registrations spike continues, sets historic highs in December, RoDTEP scheme on all export goods from January 1, 2021, Future Retail attempting to mislead shareholders, regulators, Antony Waste makes a solid debut on New Year Day, Post Office Savings Bank likely to be interconnected with other banks by April, Tamil Nadu extends lockdown till Jan 31 but announces a number of relaxations, VVIP chopper scam: Rajiv Saxena tried to acquire foreign citizenship to avoid probe, says CBI, I wrongly believed economy won’t revive without a stronger fiscal stimulus: Swaminathan Aiyar. Today, is the last day of bidding. The offer will conclude on October 9 while the final outcome of the success or failure of the delisting would be known on October 16. The Vedanta stock price slipped 2.5 per cent after the company's Board of Directors approved the delisting at Rs 87.5 per share. Vedanta share price crashed 23% today after the firm failed to complete its delisting process. The promoters will have to offer a significantly higher exit price if the bid is to succeed. The stock trades in the futures & option (F&O) segment, which has no circuit limits. Inciting hatred against a certain community, 15 Days Trial. Tomorrow is different. Vedanta share price was trading at ₹116 at 10.55 am. We need to wait until tomorrow to see if th... A total of 2,503,295 shares changed hands on the counter till 11:02AM (IST). these names must be exposed.This raises questions on how they are managing public money, Anil Aggarwal is held in high esteem for his role in the meteoric rise of an indian company in London but what he is offering is peanuts to indian investors. The announcement has come days after the failed delisting offer of the metal to mining conglomerate. Anil Agarwal-led Vedanta Resources on Saturday said it had failed to receive the required number of shares to delist Vedanta Limited. The reverse book building process will end at 3.30 pm today. 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 Delisting With Anil Singhvi: The total number of shares tendered for delisting has touched 74 crore and to cross the first hurdle of meeting the delisting eligibility the company still requires 60 crore shares by 3:30 PM today. We saw enthusiastic participation by our shareholders that took us within striking distance of our goal, short by only 7 per cent," Vedanta Resources, the parent firm of Vedanta Ltd, said in a statement. If delisting is successful promoters have to pay within 10 days to minority shareholders who have subscribed to offer. For FY20, the company has indicated a BV Rs 54,600 crore, while the revised BV is reflecting that it wrote off Rs 21,400 crore from its capital reserves. It operates iron ore, gold, and aluminum mines in the states of Goa, Rajasthan, and Odisha. The board of directors of Vedanta Ltd. on Monday approved a proposal to delist the company. 15 Vedanta Limited's delisting process starts today and will remain open this week. Choose your reason below and click on the Report button. Celebrating business leaders who helped India grow. This will alert our moderators to take action. Shares of Vedanta rose 0.25% to Rs 137.80 as the reverse book-building process began on Monday (5 October 2020) for the delisting of the stock. Why follow tips? The role played by the MFs leaves much to be desired. Till 09:23 am, a combined 2.4 million equity shares had changed hands on the NSE and … 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. Vedanta Limited is one of the leading mining companies based in India. Get more India News and Business News on Zee Business. Read more about Vedanta inches higher as delisting process begins on Business Standard. Vedanta hits lower circuit as delisting plan fails. Anil Singhvi on Vedanta Delisting: The last date for Vedanta delisting offer is fast approaching and till now around 5 per cent has been tendered. Let's reshape it today, Hunt for the brightest engineers in India, Read Stock Insights by ET for a quick analysis. The floor price is Rs 87.50 while the closing price is Rs 135. However, the … The promoters own 50.1% stake in Vedanta with 45.9% held by the public. At home, and overseas, it has been a busy week for Indian honchos. Proxy advisory firm SES has recommended to shareholders that they bid for Vedanta … 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.. 12.25 am | 23 Oct 2020 | Press Trust of India. Metals and mining conglomerate Vedanta, on May 12, announced its holding company’s plans to delist the Indian business. Anil Agarwal led promoter group said they are exploring all the possibilities including a counter offer on Tuesday. But now, after almost […] Aditya Birla Sun Life Tax Relief 96 Direct-Growt.. Is land acquisition stalling India's growth run? Sharp Insight-rich, Indepth stories across 20+ sectors, Access the exclusive Economic Times stories, Editorial and Expert opinion, ICICI Prudential Bluechip Fund Direct-Growth. 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. “A subscription agreement dated 23rd December … Corporate governance experts said by holding back the dividend to Vedanta’s shareholders despite having a dividend distribution policy could indirectly lead to a reduction in the company’s delisting price. About 126.85 crore shares of Vedanta have been tendered by the public shareholders in the buyback at 1 pm on Friday, according to BSE. Vedanta shares were down 9.99 per cent at Rs 109.90 on the BSE, while benchmark Sensex was up 324.14 per cent at 40,879 points. Of directors of Vedanta Limited 's delisting process will open on October 5 as bid opening date for offer. Time the action by the MFs leaves much to be desired could be at around 225! 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