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Motilal Oswal Report
Vedanta Resources Ltd. and other promoter group companies have received Securities and Exchange Board of India approval for delisting the shares of Vedanta Ltd.
The reverse book-building process for public shareholders to tender their shares would take place over October 05-09, 2020 which would result in the discovery of the final offer price.
Excluding ADRs (American depositary receipts) , the promoter group holds 52.33% of the total issued paidup capital and public shareholders hold 47.67% of the same.
In order to delist, promoters would have to raise their shareholding to 90%, implying that public shareholders would have to tender approximately 79% of their holding.
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