Vedanta Limited brought a delisting offer from the Indian stock market to end its listing. The delisting offer of this company controlled by Anil Aggarwal has failed. The company will now be listed on the Indian stock market. It is considered a major success of the company's shareholders. Vedanta said in a stock exchange filing on Saturday that the company's delisting offer had failed. In this regard, an advertisement will be released on Sunday and it will be given to Tahrir Investors.
In the same information given to the stock exchange, Vedanta has said that the company received bids for 125.47 crore shares, whereas it needed 134 crore shares to be delisted from the stock market. In such a situation, this offer of the company has failed. Subsequently, the company sought a day's time from market regulator Sebi to delist itself, but it was refused additional time. On Friday, Sebi had extended the time for the delisting offer to 7 pm.
If the promoters of the same Vedanta would have bought 134 crore shares out of the total 169.73 crore shares held with the shareholders, the buyback would have been terminated from the stock market. The same Vedanta said that it got a bid for 125.47 crore shares from the bid which opened on October 5, which has closed on Friday. The company required 134.12 crore shares for delisting. Thereafter, the promoters' holding would have exceeded 90 per cent, which was required by the SEBI regulations for delisting.
Also Read:
Mayawati's attack on Congress, says, "Why silence over priest's murder?"
Some Indians do not consider Dalits, Muslims, and tribals as 'humans': Rahul Gandhi
Jayaprakash Narayan became a great politician after facing many troubles in his life
Kerala: SC gave its verdict regarding the Lavalin case