Copyright © HT Digital Streams Limited All rights reserved. Updated: 15 Oct 2020, 06:36 PM IST Jayshree P. Upadhyay. More IIFL View . Vedanta Ltd. (VEDL) - Latest News & Headlines. Vedanta delisting kicks off: Investors’ lobby suggests bid price at Rs 236-310. An email query sent to Vedanta went unanswered. Latest News; Portfolio; BLink; Economy; BL On Campus; Money & Banking ; Data Focus; Cartoons; Resources; Knowledge Series (Videos) News Analysis. Vedanta Limited's delisting process starts today and will remain open this week. We need to wait until tomorrow to see if the rest of the bids are confirmed. Vedanta Ltd. (VEDL) - Latest News & Headlines. The company’s dividend distribution policy says normal dividend received from Hindustan Zinc shall be passed on to its shareholders in entirety. FILE PHOTO: A man walks past the logo of Vedanta outside its headquarters in Mumbai. The failure of India’s largest ever delisting exercise has put both promoters and the stakeholders in a difficult spot. After the failed delisting, shares of Vedanta Limited tanked 22% on Monday to trade at Rs 94 per share. A total of 2,503,295 shares changed hands on the counter till 11:02AM (IST). Vedanta’s delisting process will open on October 5. Vedanta closed at ₹ 122.10 on the BSE on Friday, a gain of 3.83 per cent over the previous close. Vedanta’s 52-week high was Rs 179.95, where as its value of stake in Hindustan Zinc itself comes to about Rs 131 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.. ... Vedanta faces do or die battle if delisting fails. Vedanta delisting through reverse book building process is going to end today at 3:30 PM. Instead it used part of the money to grant a loan to the holding company through foreign subsidiaries. “In bypassing the need for shareholder approval, they are doing a disservice to minority shareholders and themselves," the proxy advisory firm added. “The next path is unclear. Vedanta Delisting: Zee Business Managing Editor Anil Singhvi explains that promoters need to hold 90% shares of the company for the delisting to be successful. The proposed delisting is part of billionaire and Vedanta Resources founder and chairman Anil Agarwal’s plan to simplify his investments across a multi-tiered corporate structure. As on 15:30 IST on Monday (5 October), Vedanta's delisting offer received bids for 5.01 crore shares or 2.95% against the book size of 169.73 crore shares. MUMBAI : VRL will make further public announcements at the appropriate time, the statement added. Vedanta closed at Rs 122.10 on the BSE on Friday, a gain of 3.83 per cent over the previous close. Vedanta delisting update: Promoters get minimum shares required, but bids way above floor price . Photo: Reuters Vedanta's failed delisting puts investors at risk of cash flow leakages: IIAS 2 min read. 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.. The stock trades in the futures & option (F&O) segment, which has no circuit limits. Vedanta failed to complete its delisting process as promoters failed to secure the required number of shares the end of reverse book building process. The proposal required approval of at least 66.7 per cent of minority shareholders. News agency PTI, on December 24, reported that the London-based Vedanta Resources Ltd (VRL) raised its stake in its India listed unit Vedanta to 55.11 … PTI; October 01, 2020, 17:26 IST; The floor price is Rs 87.50 while the closing price is Rs 135. The debt raised for delisting of Vedanta Ltd at $ 2.5 billion only aggravated its debt position. Company has debt of Rs 1.25 lakh cr, also, they have raised some amount at 13% interest rate from international market. Vedanta Limited is one of the leading mining companies based in India. 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 … Get more India News and Business News on Zee Business. Vedanta hits lower circuit as delisting plan fails Vedanta shares were down 9.99 per cent at Rs 109.90 on the BSE, while benchmark Sensex was … A + A-Why Vedanta is trading way above the delisting price? 12.25 am | 30 Dec 2020 | Bloomberg. Investec has … Vedanta will also return the tendered shares to the investors, as the company's plan to go private was scuppered, throwing the spotlight on its debt. The determining factor were 12.3 crore unconfirmed bids. Anil Agarwal-led Vedanta Resources on Saturday said it had failed to receive the required number of shares to delist Vedanta Limited. Markets kick-start 2021 at record high; Nifty ends above 14000 for first time ever, Market outlook: Earnings, Budget expectations, vaccine to keep traders busy this month, Sensex starts 2021 on all-time high, logs longest weekly streak in 10 years, 2020 was great for bitcoin but now analysts are worried about a correction. State-owned NTPC on Thursday said it has incorporated a subsidiary for its renewable energy business. The Vedanta group is highly leveraged with cumulative debt standing at ₹1.11 trillion as of March 2020. New Delhi: Vedanta Resources on Saturday said that they have failed to garner the required number of shares to delist its Indian subsidiary Vedanta. Latest Energy News; Oil & Gas; Vedanta faces do or die battle if delisting fails. The shareholders of Vedanta Ltd will now have to bear the burnt of cash flow leakages at the cost of their returns and dividends, while the promoters’ cashflow to support the group debt has been curtailed, Institutional Investor Advisory Services (IIAS), a proxy advisory firm in a report on Thursday. Vedanta Delisting: Best for retail investors to bide time Vedanta delisting: 17.15 crore shares are tendered so far Promoters could have made a … 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. Now, after having received the nod from public shareholders, Vedanta will make a public announcement of the delisting and dispatch the letter of offer and a bid form. Log in to our website to save your bookmarks. Pressures are mounting at London-based Vedanta Resources after the delisting flopped, given it would have helped the holding company more easily access cash at the unit. Latest Energy News; Oil & Gas; Vedanta faces do or die battle if delisting fails. "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. 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. Stakeholders Empowerment Services (SES) says Vedanta’s stake in Hindustan Zinc alone is valued at Rs 145. Written by Cherian Varghese Posted on October 10, 2020 October 11, 2020 Less than 0 min read . Billionaire Anil Agarwal’s Vedanta Resources last month was the first company to propose delisting of its India listed Vedanta. More Top News . Let's reshape it today, Hunt for the brightest engineers in India. 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. ... More Latest News. Vedanta’s delisting process will open on October 5. 1-min read. 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. 12.25 am | 30 Dec 2020 | Bloomberg. For reprint rights: BioNTech founders warn of vaccine supply gaps, Labour ministry formalises WFH for services sector, Consolidation and shakeouts: Aviation to get rewired, India begins tenure as non-permanent UNSC member, UK scraps 'sexist' tax on women's sanitary products, 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. The stock had tumbled 20 per cent in the previous session as the firm's delisting plan failed after the offer could not garner enough confirmed bids. At the delisting offer price of ₹87.5, Vedanta’s share is valued 0.6 times its book value of ₹147 per share. ... 93.3 per cent of all shareholders and 84.3 per cent of public shareholders approved the delisting of shares of Vedanta. Vedanta held 64.92 per cent in the company as of June 30 Your session has expired, please login again. The delisting failed due to insufficient number of shares being offered in the buyback proposal of VRL. Any future attempt at delisting now stands pushed by at least a couple of months. 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 … The de-listing offer of Vedanta Ltd has failed, according to the data available on the stock exchange website. Click here to read the Mint ePaperMint is now on Telegram. Vedanta delisting offer fails – Top Indian Market News . These stocks may buzz the most during the d... After a failure to delist, capital allocation, dividend and debt reduction by Vedanta and its promoters will be keenly watched for by the st... Neel Gopalakrishnan, an analyst at S&P Global Ratings, expects Vedanta to again focus on the inefficient structure after the bond sale. 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. ETEnergyworld.com brings latest delisting news, views and updates from all top sources for the Indian Energy industry. 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. It'll just take a moment. 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. India Business News. 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. 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. Its shares had collapsed about … ET Bureau. “Vedanta’s shareholders must expect increasing cash outflow to the parent company at their expense," it added. According to Bloomberg, Vedanta will return this money to lenders borrowed at 13% by third week of October. 19 Nov, 2020, 09.15 AM IST Home >Companies >News >Vedanta pledges Hindustan Zinc stake to raise ₹ 10,000 crore. If delisting doesn’t happen it will be a huge loss to all stakeholders. How should the investors see this? According to Vedanta Chairman Anil Agarwal, the company has met the 90 per cent tender eligibility norms and that he was very happy with the transparent SEBI norms. 9.50 am | 24 Dec 2020 | Business Standard. 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. Bought 18.5 crore shares at a price of ₹ 159.94 per share a to. Zinc stake to raise ₹ 10,000 crore you May have noticed, the company 's Vedanta. Domestic institutional investors, make up a nearly half of this debt resides with the latest Business on... 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