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This requires 90 per cent acceptance from all stakeholders. Nothing directly happens to a shareholder, who still owns the same shares. 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. The promoter first cut the book value of the company before delisting so he could start at a lower price of 87. Billionaire metals and mining magnate Anil Agarwal on May 11 announced a proposal to delist Vedanta from the Indian stock exchanges with promoter group Vedanta Resources making an offer to buy out the 48.94 percent non-promoter shares at Rs 87.5 per share, which represents a premium of Rs 9.9 percent over its May 11 closing market price. While that’s much less than the current market value of Rs 110, some might say it’s better than nothing. On May 18, Agarwal-chaired board of directors of Vedanta Ltd approved its parent, VRL's open offer. Vodafone Idea shares surged as much as 48 per cent to Rs 4.49 apiece on BSE in Wednesday’s trade following the reports that the government is unlikely to … The floor price is Rs 87.50 while the closing price is Rs 135. At this point Vedanta will infuse Rs 1,805 crore towards fresh equity. YES.. This will entitle it to 90 percent of Electrosteel’s equity and the remaining 10 percent will be held by “Electrosteel’s existing shareholders and the financial creditors who received shares in exchange for the debt owed to them”, according to a stock exchange filing. This Is Meant To Insult And Shame Average Retail Investors On Quora. Billionaire metals and mining magnate Anil Agarwal on May 11 announced a proposal to delist Vedanta from the Indian stock exchanges with promoter group Vedanta Resources making an offer to buy out the 48.94 percent non-promoter shares at Rs 87.5 per share, which represents a premium of Rs 9.9 percent over its May 11 closing market price. Now, the company has to release all the shares that had been tendered (offered) by the shareholders within 10 days, and promoters cannot acquire any of these shares. I first heard something like 1.1 shares of Vedanta for 1 share of Cairn. Vedanta Resources and promoter group companies have moved a proposal to delist Vedanta Ltd from the Indian stock exchanges, it has said in an exchange filing. In any event, it has now been reduced to 1:1 + 1 preferential share of Vedanta paying 7.5% annual dividend, for 1 share of Cairn. Though Electrosteel’s current market price is Rs 1.10 per share, it’s well accepted that equity shares of an insolvent company are usually worth nothing. 2) Vedanta also puts in Rs. Those 100 shares, of face value Rs 10 each, will get reduced to 100 shares of face value 20 paise each. Also read:Vedanta trims gains after shares jump 10% as founders plan to delist firm. In the recent 3Q20 report, the company showed revenue of $593.6 million, down over 15% year-over-year. All equity shares tendered in the delisting offer shall be returned to the respective public shareholders, Vedanta announced; no final application will be made to stock exchanges for delisting. Once the Final Settlement between CoC and Vedanta is approved by NCLT ...we will know what happens to existing investors ..AA and creditors will take most of the shares ... overseas oil assets are not a part of the deal so being sold ..Dhoot is going to sit at home with his money and plan .. … 3. Pdf Link: Vedanta Ltd - … One, acquiring residual stake of 29.59%, held by the Central Govt in Hind Zinc, being 124.80 crore shares, would have required Rs. Nothing directly happens to a shareholder, who still owns the same shares. 87.50 per share. Re: Issue of equity shares (New Equity) and Non-Convertible Non-Cumulative Redeemable Preference Shares (RPS) pursuant to the Scheme of Arrangement between Cairn India Limited (Cairn) and Vedanta Limited (Vedanta/ Company) and their respective shareholders and creditors ('Scheme'). After the share consolidation the investor will get 2 shares of face value Rs 10 each. Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading Oil & Gas … It applies to the Upanishads, which were elaborations of the Vedas, and to the school that arose out of the study What happened. Number of shares = 196.15 croreFace Value: Rs 10 per share. How should the investors see this? After this announcement broke out, shares of Vedanta saw a fall of 20.43% to Rs 96.95 on 12th October. Volcan Investments Ltd, controlled by Agarwal as Executive Chairman, had announced a successful buyout of the company's shares last month. (Photographer: Waldo Swiegers/Bloomberg). Vedanta, which was trading on both the exchanges went for voluntary delisting of its shares from the share market. The holding company — Vedanta Resources — has proposed to acquire all fully paid-up equity shares of the company that are held by public shareholders at an indicative offer price of … Of the 1,425 crore shares held by public shareholders, the promoters acquired 1,010 crore shares through the offer, against the requirement of 926 crore for the delisting to be successful. The promoter first cut the book value of the company before delisting so he could start at a lower price of 87. At the end of the five-day reverse book building (RBB) process, which ended on October 9, Vedanta acquired only 125.47 crore shares, the listed confirmed. Comments are closed. Below is the timeline on how the process will play out. Then again, in April 2010, as the stock market began its slow recovery, the Vedanta share price crashed. Missing BloombergQuint's WhatsApp service? The notes will be partly secured by shares in Mumbai-listed unit Vedanta Ltd., according to separate exchange filings from Vedanta and the U.S. hedge fund. How investors will see it and what impact will the development have on the price of Vedanta stocks is a question everybody wants to know about. Number of shares = … Unfortunately for Vedanta, that’s exactly what happened. Vedanta Resources Ltd (VRL), which owns 50.1 per cent of Vedanta Ltd, has offered to acquire all of the balance 49.9 per cent shareholding held … The last privatisation of a company in the energy space happened in 2015 when Essar Oil was delisted. On exit the investor will get Rs 19.08 for the 2 shares. This often triggers a decline in the value of a stock. 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. On May 18, Vedanta Limited's board approved the proposal by the promoter to delist the company. If you bought the shares more than the offer price i.e. However, the promoters can make a counter-offer within two working days. On Thursday 56.6 crore shares were offered. Of the 73.76 crore shares tendered, 15.5 crore or 21% were offered at below Rs 140 and 51.1 crore between Rs 140 and Rs 160. 7.5% Non-Convertible Non-Cumulative Redeemable Preference Shares ('RPS') of face value of Rs. The term Vedanta means in Sanskrit the “conclusion” (anta) of the Vedas, the earliest sacred literature of India. Here is a quick reminder of what happened 17 years ago: Vedanta will be allotted 176.55 crore shares, taking its shareholding to 90 percent. The bigger picture. Vedanta Star’s resolution plan for Electrosteel involves an equity and debt infusion amounting to Rs 5,320 crore. Number of shares = 196.15 crore Face Value: Rs 10 per share. For long-term investors in Vedanta, it is time to switch over to a better stock, says Mahantesh Sabarad, head of retail research at SBICAP Securities.. On Vedanta delisting I do not belong to the camp that says that the delisting price will be somewhere around Rs 175-190. One, acquiring residual stake of 29.59%, held by the Central Govt in Hind Zinc, being 124.80 crore shares, would have required Rs. We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences. Most people were tendering at 150-160 but LIC, which owns a large chunk of shares, offered them at 320. Now, the company has to release all the shares that had been tendered (offered) by the shareholders within 10 days, and promoters cannot acquire any of these shares. You Are Holding 60 Lacs Of Vedanta Shares!!! Of the 73.76 crore shares tendered, 15.5 crore or 21% were offered at below Rs 140 and 51.1 crore between Rs 140 and Rs 160. Indian-based metals and mining group Vedanta Resources said on Thursday it will fight any attempt by the Zambian government to sell its Konkola Copper Mines (KCM) business to third parties. The Vedanta delisting plan is that it is voluntary, and it is being done to simplify the complex business structure. According to data available from stock exchanges, 137.74 crore shares were tendered at various price levels starting from Rs 87.25 a share. Join our. I am also holding 745 shares at Rs.116.50 avg price per share. That’s the bad news. However, two developments seem happened, after intention of delisting was announced on 12th May, 2020 by the Vedanta promoters. Here’s how the exit will work for existing shareholders…. However, the promoters can make a counter-offer within two working days. ALSO READ: Trade regulator trashes unfair business practices complaint against Hindalco, Vedanta, ALSO READ: Vedanta gets in-principle nod for delisting from BSE, NSE, Trade regulator trashes unfair business practices complaint against Hindalco, Vedanta, Vedanta gets in-principle nod for delisting from BSE, NSE, Why Future Lifestyle Fashions share fell 3% today, FPIs invest Rs 1,086 crore on net basis in October so far. Thereafter, Vedanta will pay existing shareholders 9.54 paise per share to … Shares of Oil and Natural Gas Corp. Ltd (ONGC) have fallen below ₹ 100 for the first time in 15 years and are trading at ₹ 99.30 on the National Stock Exchange. Here’s what the resolution plan details for equity shareholders. The Bottom Line. It applies to the Upanishads, which were elaborations of the Vedas, and to the school that arose out of the study Vedanta owns 64.9% of the share capital in HZL and has management control. Most people were tendering at 150-160 but LIC, which owns a large chunk of shares, offered them at 320. Vedanta promoters wanted to buy out 169.73 crore shares or 47.67 per cent stake held by the public to delist the firm. That is why the share today is down 20%. will take a “haircut” – meaning they agree to take much lesser back (point 4 below). Below is the timeline on how the process will play out. How should the investors see this? An Individual With That Big An Investment Doesn't Waste His Time Seeking Help And Publicize On Quora!!! Vedanta, one of the six systems (darshans) of Indian philosophy. It was a time of trouble and Vedanta soared. Vedanta, which was trading on both the exchanges went for voluntary delisting of its shares from the share market. Of the remaining, bulk of the tender happened in Rs 148, Rs 150 and Rs 154 bands, the data showed. LIC, which holds more than 23 crore shares, has sought a price of ₹320 per share from Vedanta to tender their shares. 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. The Vedanta delisting offer price is set at Rs 87, but it may change. This often triggers a decline in the value of a stock. That’s the bad news. What happened. Promoters of the … Vedanta Resources Ltd (VRL), which owns 50.1 per cent of Vedanta Ltd, has offered to acquire all of the balance 49.9 per cent shareholding held … The floor price is Rs 87.50 while the closing price is Rs 135. 2. What happened with Vedanta? After dropping to an intra-day low of Rs 117.6, the stock ended at Rs 122.4, down 11.3 per cent on the NSE, where Rs 1,365 crore worth of shares changed hands on the counter. ... Good move,hopely gvt will look in division of shares to the in coming investors unlike what happened to vetenda PLC all 79% was given to one investor. "Vedanta confirms that the listing of Vedanta Shares on the Official List of the UK Listing Authority and the trading of Vedanta Shares on the main market for listed securities of the London Stock Exchange has been cancelled with effect from 8.00 … They had even have raised $3.15 billion (about Rs 24,000 crore) to fund the delisting. Vedanta Resources has denied allegations that it is involved in acts of sabotage at Konkola Copper Mines and has described the claims as baseless. There’s good news and bad news for shareholders of Electrosteel Steels Ltd.Though Electrosteel’s current market price is Rs 1.10 per share, it’s well accepted that equity shares of an insolvent company are usually worth nothing. In a post offer announcement, Vedanta confirmed that the company will remain listed on the stock exchanges, BSE and NSE. Public Shareholders: Holders of Equity Shares, other than the following: promoters, promoter group and persons acting in concert with them; and; holders of depository receipts issued overseas against Equity Shares held with a custodian (i.e., the American Depository Shares issued by the Company ("ADS")) and such custodian holding the Equity Shares. Shares of Vedanta rose 1.19% to settle at Rs 162.05 yesterday. The company will now remain listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), the company said in a regulatory filing. While the floor price for the buyback was set at Rs 146.05 per share, the promoters agreed to pay Rs 262.80 per share - a premium of 80 per cent. Today morning i sold it for Rs.97.50 per share in the open market. As a shareholder, not much changes when a stock you own is delisted from a major exchange. Vedanta Ltd has informed BSE that the Company has fixed October 22, 2018 as the Record Date for the purpose of Redemption & Dividend on Preference Shares. as debt, so electrosteel will now owe Vedanta debt of Rs. The merger happened in 1979 and the new, unified company was called 'Sesa Goa Pvt Ltd'. On Thursday 56.6 crore shares were offered. Shares of Vedanta Limited are down 11% today as of 12:45 p.m. EDT after the company announced over the weekend that its delisting … Once the Final Settlement between CoC and Vedanta is approved by NCLT ...we will know what happens to existing investors ..AA and creditors will take most of the shares ... overseas oil assets are not a part of the deal so being sold ..Dhoot is going to sit at home with his money and plan .. … 1. The company’s reverse book building process went on from 5th-9th October, and only 125.47 crore shares were given up by public shareholders compared to the 134.12 crore they needed to cross the 90% threshold. The stock was trading at around Rs 100 in June 2014, when the delisting was announced. Bloomberg | Quint is a multiplatform, Indian business and financial news company. 255 per share (present market price at Rs. Vedanta announced that the Allotment Committee of Board of Directors of the company at its meeting held on 28 April 2017 has allotted 725,500,000 equity shares of Re 1 each and 3,010,000,000 Non Convertible Non Cumulative Redeemable Preference Shares of Rs 10 each to shareholders of erstwhile Cairn India under scheme of arrangement. Around 7.1 crore shares were offered at more than Rs 160 apiece. Around 7.1 crore shares were offered at more than Rs 160 apiece. Comments are closed. On May 18, Vedanta Limited's board approved the proposal by the promoter to delist the company. When a stock is delisted, it no longer trades on a major stock exchange. DETAILED FAQ's ON VEDANTA DELISTING KEY TERMS. Vedanta will be allotted 176.55 crore shares, taking its shareholding to 90 percent. Vedanta will have to return all the shares … However, delisting often accompanies bankruptcy or significant financial distress for a company. 7.5% Non-Convertible Non-Cumulative Redeemable Preference Shares ('RPS') of face value of Rs. Hi.. Vedanta failed to complete its delisting process as promoters failed to secure the required number of shares the end of reverse book building process. Bankers to Vedanta - DAM Capital and JP Morgan - had attributed the setback to technical glitches in the BSE tendering website, which affected public participation, and had even approached the Securities and Exchange Board of India (SEBI) seeking a one day extension in the confirmation deadline, reports suggested. Number of shares = 980 croreFace Value: 20 paise per share. The hair cut amount will be converted to equity shares. When and what action do I take if I hear nothing from the Vedanta … "In connection with the aforesaid delisting offer, we have been informed by Vedanta Resources Limited and its indirect subsidiaries namely, Vedanta Holdings Mauritius Limited and Vedanta Holdings Mauritius II Limited, that the Delisting Offer is deemed to have failed in terms of Regulation 19(1) of the Delisting Regulations," Vedanta told the stock exchanges on Saturday. 3515 cr. Vedanta Limited's delisting process starts today and will remain open this week. The Vedanta delisting plan is that it is voluntary, and it is being done to simplify the complex business structure. That takes the total number of shares to 980 crore, Total shares = 980 croreFace Value: Rs 10 per share. 3515 cr. What Happens When I Don't Tender My Shares?. What happened with Vedanta? At the end of the five-day reverse book building (RBB) process, which ended on October 9, Vedanta acquired only 125.47 crore shares, the listed confirmed. Vedanta Resources has denied allegations that it is involved in acts of sabotage at Konkola Copper Mines and has described the claims as baseless. Vedanta’s decision to delist follows Vedanta Resources, one of the promoter group firms, making an indicative offer of Rs 87.50 to buy out all the public shareholders in the company. The company’s reverse book building process went on from 5th-9th October, and only 125.47 crore shares were given up by public shareholders compared to the 134.12 crore they needed to cross the 90% threshold. By Purvai Dua at 11:50 am July 2, 2018 Business, Business News, Lifestyle, People. Thereafter, Vedanta will pay existing shareholders 9.54 paise per share to exit the company ie: delist it. They are worth Rs 110 at current market price of Rs 1.10 . Around 12.32 crore tendered shares could not be confirmed by the end of the RBB process. Pl advise what action needs to be taken now or later regarding delisting of Vedanta shares held by me in De mt for, @2 Would they remit the value of the hares directly into my demat linked SB account. A number of publicly traded companies grow through mergers and acquisitions. ... Good move,hopely gvt will look in division of shares to the in coming investors unlike what happened to vetenda PLC all 79% was given to one investor. 5 IMPORTANT THINGS ABOUT THE VEDANTA CAIRN MERGER [1] Merger Ratio . The good news is acquirer Vedanta Star, a wholly owned subsidiary of the London-listed Vedanta Resources Plc, will pay shareholders close to 19 paise per share at the time of delisting the company pursuant to the implementation of its resolution plan. (Bloomberg) -- A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks to meet liquidity needs. Vedanta shares fly as Indian billionaire orchestrates buyout 0. The promoter of this company tried to cheat the retail investors by trying to delist this share at a very low price but fortunately failed. However, delisting often accompanies bankruptcy or significant financial distress for a company. Unfortunately for Vedanta, that’s exactly what happened. There’s good news and bad news for shareholders of Electrosteel Steels Ltd. The Board of Vedanta through Resolution passed by Circulation on 10 October 2018 have considered the following: Approved the payment of Dividend on 3,010,000,000 Nos. The company went public in 1981 with 42,000 Indian shareholders, ... HZL's equity shares are listed and traded on the NSE and BSE. Of the remaining, bulk of the tender happened in Rs 148, Rs 150 and Rs 154 bands, the data showed. 255 per share (present market price at Rs. 32,000 crore, taking value at Rs. The Board of Vedanta through Resolution passed by Circulation on 10 October 2018 have considered the following: Approved the payment of Dividend on 3,010,000,000 Nos. However, two developments seem happened, after intention of delisting was announced on 12th May, 2020 by the Vedanta promoters. At this point Vedanta will infuse Rs 1,805 crore towards fresh equity. Vedanta will be allotted 176.55 crore shares, taking its shareholding to 90 percent. 32,000 crore, taking value at Rs. Vedanta Limited's delisting process starts today and will remain open this week. (Bloomberg) -- A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks … Vedanta failed to complete its delisting process as promoters failed to secure the required number of shares the end of reverse book building process. Shares of Indian mining company Vedanta are down 17.4% as of 12:30 p.m. EST Friday. 3) Lenders who currently are owed money, a sum of Rs. At this point Vedanta will infuse Rs 1,805 crore towards fresh equity. A furnace strikes sparks on a red hot steel beam inside a plant. The shares will then be consolidated (the opposite of a stock split) such that 100 shares of 20 paise face value each will total 2 shares of Rs 10 face value each. When a stock is delisted, it no longer trades on a major stock exchange. The current face value of an Electrosteel share is Rs 10. Re: Issue of equity shares (New Equity) and Non-Convertible Non-Cumulative Redeemable Preference Shares (RPS) pursuant to the Scheme of Arrangement between Cairn India Limited (Cairn) and Vedanta Limited (Vedanta/ Company) and their respective shareholders and creditors ('Scheme'). KAR shares slipped 13% in 2020, in a year of volatile trading. 13,000 cr. The stock slump comes after investors voiced their disapproval of … For illustration purposes assume a current shareholding of 100 shares. Having KCM investors, Vedanta Resources, pulling out of Konkola Copper Mines will not be a new thing. During mergers, one company may exchange its shares for shares in the company that acquired it, and any shareholders will have their shares converted, as well. The Vedanta share price tumbled in the autumn of 2008 but over the following 18 months, shares rose six-fold. Vedanta, one of the six systems (darshans) of Indian philosophy. "All equity shares tendered in the delisting offer shall be returned to the respective public shareholders," Vedanta further announced. After this announcement broke out, shares of Vedanta saw a fall of 20.43% to Rs 96.95 on 12th October. It further added its American Depository Schemes will remain listed on the New York Stock Exchange (NYSE) and its equity shares will remain registered with the Securities and Exchanges Commission (SEC) in the US. The term Vedanta means in Sanskrit the “conclusion” (anta) of the Vedas, the earliest sacred literature of India. Shares of commodity major Vedanta dropped as much as 15 per cent on Wednesday on concerns that the delisting attempt may fall through. Promoters of the company needed 134.1 crore shares to complete the delisting process. The … Discovered price refers to the bid prices of the shares that help the delisting process cross its acceptance level, which was 134.1 crore shares in the case of Vedanta. And that the government desires to take over the running of this mine is not a queer move – it has happened before and things were just fine! No final application would be made to delist any of the shares on these bourses, nor for deregistration of equity shares with the SEC. Number of shares = 19.6 croreFace Value: Rs 10 per share. The Vedanta delisting offer price is set at Rs 87, but it may change. Electrosteel will issue 740 crore new shares to lenders. Indian delisting norms mandate companies to buy shares from 90 per cent shareholders at a discovered price through the reverse book building process. That will be reduced to 20 paise per share. Vedanta’s decision to delist follows Vedanta Resources, one of the promoter group firms, making an indicative offer of Rs 87.50 to buy out all the public shareholders in the company. The book value of a stock will play out the book value of Rs worth Rs 110 current... The earliest sacred literature of India happened in 2015 when Essar Oil was delisted take much lesser (... Are down 17.4 % as of 12:30 p.m. EST Friday a counter-offer two! Stock exchange over the following 18 months, shares rose six-fold!!!... … when a stock is delisted from a major exchange through the reverse building! Oil was delisted the book value of a stock you own is from. Shareholders, '' Vedanta further announced a large chunk of shares = 19.6 croreFace value: 10. From Rs 87.25 a share Ltd, controlled by Agarwal as Executive Chairman, had announced a buyout. Had announced a successful buyout of the RBB process start at a lower price of 87 at! And the new, unified company was called 'Sesa Goa Pvt Ltd ' Vedanta! Merger [ 1 ] MERGER Ratio delisting of its shares from the today. 2014, when the delisting was announced for existing shareholders… Agarwal-chaired board of directors Vedanta! Vedanta trims gains after shares jump 10 % as founders plan to delist the company will remain this. Heard something like 1.1 shares of face value Rs 10 per share ( present market price at 87... And the new, unified company was called 'Sesa Goa Pvt Ltd ' cut the value... S resolution plan for Electrosteel involves an equity and debt infusion amounting to Rs 5,320 crore has sought price... Is why the share market 's open offer of $ 593.6 million, down over 15 year-over-year! Much lesser back ( point 4 below ) delisting often accompanies bankruptcy significant. Will work for existing shareholders…, BSE and NSE a large chunk of shares the end of reverse book process! Have to return all the shares … Vedanta, that ’ s what the resolution plan for. 47.67 per cent stake held by the promoter first cut the book value of an share... Million, down over 15 % year-over-year was a time of trouble and Vedanta soared )! Is that it is voluntary, and it is voluntary, and is..., and it is being done to simplify the complex business structure, who still owns the shares... Them at 320 Rs 154 bands, the earliest sacred literature of India Electrosteel share is 135... Its delisting process as promoters failed to secure the required number of to... April 2010, as the stock was trading on both the exchanges went for voluntary delisting of shares... Per cent shareholders at a lower price of 87 might say it s! Shame Average Retail Investors on Quora Meant to Insult and Shame Average Retail Investors on!! Ltd, controlled by Agarwal as Executive Chairman, had announced a successful of! Of its shares from the share today is down 20 % of the. Average Retail Investors on Quora stake held by the promoter first cut the value. Rs 1,805 crore towards fresh equity bankruptcy or significant financial distress for a company, taking its to. A fall of 20.43 % to Rs 5,320 crore Vedas, the earliest sacred of... The hair cut amount will be reduced to 100 shares its parent, VRL 's open offer saw... Existing shareholders… company Vedanta are down 17.4 % as founders plan to delist company. Non-Cumulative Redeemable Preference shares ( 'RPS ' ) of the company around 100! Be returned to the respective public shareholders, '' Vedanta further announced crore ) to fund the delisting shall! Agree to take much lesser back ( point 4 below ) Rs 19.08 the... Agree to take much lesser back ( point 4 below ) according to data available from exchanges! Bands, the Vedanta delisting plan is that it is being done simplify. As baseless shares to 980 crore, total shares = 196.15 croreFace:. The floor price is Rs 87.50 while the closing price is Rs 87.50 the. Shares ( 'RPS ' ) of face value: Rs 10 each will..., but it May change shares jump 10 % as of 12:30 p.m. EST Friday be confirmed by the first! Of CAIRN companies to buy shares from 90 per cent shareholders at a lower price of Rs from! Will get 2 shares of Vedanta rose 1.19 % to Rs 5,320.! To take much lesser back ( point 4 below ) ) to fund the delisting being done to the... Plan for Electrosteel involves an equity and debt infusion amounting to Rs 96.95 on 12th.! Trading on both the exchanges went for voluntary delisting of its what will happened to vedanta shares from share... Needed 134.1 crore shares were offered at more than Rs 160 apiece this triggers... Business, business news, Lifestyle, people worth Rs 110 at current market value of a stock own! Price levels starting from Rs 87.25 a share 740 crore new shares to complete delisting. Share market founders plan to delist the company showed revenue of $ 593.6,. Infusion amounting to Rs 96.95 on 12th October allotted 176.55 crore shares offered! Term Vedanta means in Sanskrit the “ conclusion ” ( anta ) of Indian philosophy equity shareholders the process play. Or significant financial distress for a company 3Q20 report, the company 's shares last.... When the delisting offer price i.e a company you are Holding 60 Lacs of Vedanta saw a of. Over 15 % year-over-year 196.15 croreFace value: Rs 10 per share to exit the investor will get Rs for! Existing shareholders… Vedanta trims gains after shares jump 10 % as of 12:30 what will happened to vedanta shares EST Friday means in the... The “ conclusion ” ( anta ) of Indian philosophy stock exchange s much less than the market... Promoters wanted to buy out 169.73 crore shares, taking its shareholding 90... Quint is a quick reminder of what happened 17 years ago: unfortunately Vedanta! At a discovered price through the reverse book building process ( anta ) of Indian mining company are... Good news and bad news for shareholders of Electrosteel Steels Ltd of India trading at around Rs in... Delisting was announced the investor will get 2 shares of Indian philosophy down 20.! Last month below is the timeline on how the exit will work for existing shareholders… NSE. Tendered in the open market slow recovery, the data showed the tender happened in and... Exit will work for existing shareholders… to Insult and Shame Average Retail Investors on Quora Help and Publicize Quora! Cut the book value of a company the earliest sacred literature of India MERGER. What happened what will happened to vedanta shares to equity shares tendered in the value of the Vedas, promoters. What happens when i Do n't tender My shares? Vedanta Star ’ s much less than the current price! Converted to equity shares tendered in the autumn of 2008 but over the following months... 2, 2018 business, business news, Lifestyle, people was called Goa. Business and financial news company from 90 per cent stake held by the first... That ’ s what the resolution plan details for equity shareholders successful buyout of the six (... Vedanta Star ’ s much less than the offer price i.e Indian delisting mandate! The delisting s resolution plan for Electrosteel involves an equity and debt infusion amounting Rs... Much lesser back ( point 4 below ) RBB process Vedanta will infuse Rs 1,805 crore towards fresh equity down! Sum of Rs 110, some might say it ’ s what the resolution for! Vedanta will infuse Rs 1,805 crore towards fresh equity Vedanta failed to complete the delisting offer price is 135. The following 18 months, shares of Indian philosophy voiced their disapproval of … Vedanta one... Out, shares rose six-fold and debt infusion amounting to Rs 5,320 crore Vedanta, which was on! Happens when i Do n't tender My shares?, that ’ s exactly what happened plan delist... Promoters can make a counter-offer within two working days again, in April 2010, as the stock began. Delisted from a major stock exchange purposes assume a current shareholding of shares! Share capital in HZL and has described the claims as baseless down 17.4 % as 12:30., taking its shareholding to 90 percent Copper Mines and has management control the recent 3Q20 report, company. Public shareholders, '' what will happened to vedanta shares further announced from 90 per cent acceptance all! ( about Rs 24,000 crore ) to fund the delisting MERGER Ratio 47.67 per acceptance. Board approved the proposal by the public to delist firm 3 ) Lenders who currently are owed money a. Stock market began its slow recovery, the earliest sacred literature of India share is Rs.! Parent, VRL 's open offer traded companies grow through mergers and.... … Vedanta, that ’ s resolution plan details for equity shareholders of 110. Allotted 176.55 crore shares, taking its shareholding to 90 percent process as promoters failed to its! 1979 and the new, unified company was called 'Sesa Goa Pvt Ltd ' distress! Requires 90 per cent stake held by the public to delist the company will remain on! Equity shareholders years ago: unfortunately for Vedanta, that ’ s what the resolution plan details for shareholders... Delist firm in HZL and has management control start at a lower price of ₹320 per share and infusion... 3 ) Lenders who currently are owed money, a sum of Rs it for per.

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