Vedanta’s delisting provide is deemed to have failed by way of the delisting rules, the corporate introduced.
Vedanta mentioned that 125.47 crore shares had been validly tendered by public shareholders. The reverse guide constructing course of for public shareholders had concluded on Friday.
For profitable delisting of the shares, 134.12 crore shares wanted to have been validly tendered for the promoter shareholding to cross the 90% shareholding.
Accordingly, the acquirers won’t purchase any fairness shares tendered by the general public shareholders within the delisting provide and the fairness shares will proceed to stay listed on the stock exchanges, the Vedanta assertion mentioned.
“The full variety of Supply Shares validly tendered by the Public Shareholders within the Delisting Supply is 1,25,47,16,610 Supply Shares, which is lower than the minimal variety of Supply Shares required to be accepted by the Acquirers to ensure that the Delisting Supply to achieve success by way of Regulation 17(1)(a) of the Delisting Laws. Thus, the Delisting Supply is deemed to have failed by way of Regulation 19(1) of the Delisting Laws,” Vedanta mentioned.
NASA instances Asteroid Bennu forward of snatch and seize — finds six new secrets and techniques, together with a potential void below the floor
RBI Governor desires markets to maintain the religion however merchants need one thing extra
TCS beats Accenture to grow to be the world’s most beneficial IT providers firm — however this not the primary time it has raced forward