The de-listing offer of Vedanta Ltd has failed, according to the data available on the stock exchange website. To de-list the shares from the bourses, Vedanta’s UK promoters required 134 crore shares. According to the BSE website, only 125.47 crore shares were tendered till 7.20 pm.
However, the company can come out with a revised price. But it may not get shares below ₹320 a piece for de-listing as LIC has sought that price for tendering its nearly 24 crore shares. Neither the merchant banker to the de-listing offer nor Vedanta issued any statement till the time of going to the press.
UK promoters of Vedanta hold around 50 per cent in the company and had to acquire 40 per cent stake to de-list.
“Bidding for Vendanta was extended till 7 pm and data till 7.20 pm show that the threshold 90 per cent bid has not been received. If