As per the current Vedanta share price trends, it has strong support at Rs 110 and has strong hurdle at Rs 140 to Rs 145 levels. So, in that case they might give a counter offer at higher price than the Vedanta delisting price. New Delhi, ZeeBiz WebDesk. New Delhi: You must have recently heard the news of Vedanta delisting. If the delisting had garned the required number then promoters could have made a counter offer at more than Rs 150 per share. Copyright © Zee Media Corporation Ltd. All rights reserved, Senior Citizens Savings Scheme - HDFC Bank vs ICICI Bank: Get higher returns under Special FD plan! The attempt to take Vedanta private follows a series of moves by Agarwal to simplify his investments, including delisting London-based parent Vedanta Resources in … 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. WhatsApp New Update 2021 News: Your account may be deleted by this date - Here is why, Hrithik Roshan posts a ''serious selfie'', Kartik Aaryan embraces airport look amid new normal, Consumption demand is increasing across segments in the real estate sector: Siddhartha Mohanty, LIC Housing, SBI Vs HDFC Bank Vs ICICI Bank Vs Post Office FD: How to earn more money | EXPLAINED. 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's delisting offer is deemed to have failed in terms of the delisting regulations, the company announced. A large number of unconfirmed bids and some technical glitches in the tender process are likely to have contributed to the failure. As of a June filing, the Life Insurance Corporation owned 23.67 crore Vedanta shares amounting to a 6.37% stake. As per the consolidated balance sheet of the company as on March 2020, book value of Vedanta could be Rs 147 per share. The promoters have raised $ 3.15 billion (about Rs 24,000 crore) to fund the delisting. The holding company — Vedanta Resources — … Last week, Vedanta Ltd's delisting went from almost-a-success to failure due to a large number of unconfirmed orders. ", On price and counter offer by the Vedanta promoters, the Market Guru said, "Once the tender of Vedanta shares is complete, it becomes important to know at what price the delisting takes place. Vedanta delisting update: Promoters get minimum shares required, but bids way above floor price. Vedanta promoters want to buy out 169.73 crore shares or 47.67 per cent stake held by the public to delist the firm. After buying out Cairn, Vedanta set in motion the delisting of the cash-rich Cairn India in 2016, and merging it with itself. The promoters have raised $3.15 billion (about ₹ 24,000 crore) to fund the delisting. 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. Vedanta Delisting: Best for retail investors to bide time Vedanta delisting: 17.15 crore shares are tendered so far Promoters could have made a … This funding can support a price of Rs 140-145 per share. The market is abuzz with chatter than many other companies are exploring the delisting option.Get latest Business online at cnbctv18.com Subscribe on YouTube. Earlier this month, Anil Agarwal-promoted Vedanta Limited announced intention to delist from the Indian stock exchanges. 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. After the failed delisting, shares of Vedanta Limited tanked 22% on Monday to trade at Rs 94 per share. The meeting is scheduled for May 18. Anil Agarwal-led Vedanta, which was trading on both the exchanges, on 12 May announced that its promoter is planning to take the company private. Check Business Breaking News Live on Zee Business Twitter and Facebook. Vedanta closed at Rs 122.10 on the BSE on Friday, a gain of 3.83 per cent over the previous close. 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. 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. 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 closed at ₹ 122.10 on the BSE on Friday, a gain of 3.83 per cent over the previous close. How should the investors see this? 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. Vedanta announced on Saturday that it had failed to garner the number of shares required to complete its delisting process from the stock market. Check details, Tiger Shroff drops first look of new single ''Casanova''. The post offer public announcement of the company said that 125.47 crore shares were validly tendered by public shareholders. 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. 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.". Remember, those who don't cancel, their bid will be considered accepted at the delisting price even when their bid is much above it.". Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. hold bulk of Vedanta shares and once they start tendering them, it will start reflecting in the net tender volume at very fast rate. 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. 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. To delist, Vedanta would need the board’s approval. Yes Bank, Gland Pharma, Adani Enterprises, PI Industries, Jubilant Foodworks to Hindustan Agro - Mutual funds stock classification changed; full list inside. Vedanta closed at Rs 122.10 on the BSE on Friday, a gain of 3.83 per cent over the previous close. 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. 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 said that 125.47 crore shares were validly tendered by … The trend of companies looking to delist from the bourses appears to be picking up. In August, Vedanta had moved the apex court challenging the … File photo of Vedanta logo (Image : Reuters). Shares of Vedanta Ltd fell 10% on Monday as the miner's attempt to buy back shares and delist itself failed, forcing it to return all the shares tendered as part of the process. Sebi delisting rules suggest that counter offer price can not be less than the book value of the company. 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. 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. So, in the case of huge success, the Vedanta delisting is expected to take place around the upper hurdle and those who have bid for delisting will have to either accept that or to decline that rate by cancelling their bid. 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 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. vedanta delisting news Blogs, Comments and Archive News on Economictimes.com The promoters have raised $ 3.15 billion (about Rs 24,000 crore) to fund the delisting. The offered closed on Friday. For example, LIC holds 6.37 per cent of Vedanta shares, ICICI Prudential holds 4.81 per cent, HDFC Equity Fund has 3 per cent Vedanta shareholding while Citi Bank has 4.37 per cent. are yet to tender their shareholding. 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. The stock trades in the futures & option (F&O) segment, which has no circuit limits. 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. vedanta delisting news Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. Vedanta promoters wanted to buy out 169.73 crore shares or 47.67 per cent stake held by the public to delist the firm. To de-list the shares from stock exchanges, Vedanta’s UK promoters required 1.34 billion shares. "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. According to data available from stock exchanges, 137.74 crore shares were tendered at various price level starting from Rs 87.25 a share. 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. Similarly, there are other intuitions, that also hold Vedanta shares in bulk. Till 09:23 am, a combined 2.4 million equity shares had changed hands on the NSE and BSE. The reverse book building process started on October 5. 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. The delisting will be done on the stock exchanges via the process of reverse book building, which will enable eventual price discovery. 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 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. In May, the promoters of Vedanta had announced the delisting offer at Rs 87.5 per share. Vedanta Ltd.’s delisting offer is deemed to have failed as per terms of the delisting regulations, the company said in an exchange filing. Vedanta Limited's delisting process starts today and will remain open this week. Market Guru said that institutions will tender their Vedanta 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. Mi 10i (5G) priced at Rs 20,999 on launch; get cashback of up to Rs 20,000! 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. Metals and mining conglomerate Vedanta, on May 12, announced its holding company’s plans to delist the Indian business. This funding can support a price of Rs 140-145 per share. 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. Jun 17, 2020 12:06 IST | India Infoline News Service A + A - Speaking on the factors that hold key for the success of Vedanta delisting, Anil Singhvi said, "Three things are very important for the success of Vedanta delisting — institutions, price of delisting and counter offer by the promoters. By: ... Click here to join our channel and stay updated with the latest Biz news and updates. 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 floor price is Rs 87.50 while the closing price is Rs 135. 7th Pay Commission latest news: Big DA hike coming in January for central government employees, pensioners? Vedanta delisting offer garners healthy response; at what price should you tender shares? 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