InvestorQ : How do you see the response of shareholders to the delisting offer of Vedanta Ltd?
Niti Shenoi made post

How do you see the response of shareholders to the delisting offer of Vedanta Ltd?

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Archita Jajjoo answered.
11 months ago
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Most minority shareholders have stated that the delisting offer of Vedanta at an offer price of Rs.87.50 per share was unattractive. Delisting process requires majority of the public shareholders to vote in favour of the special resolution; or at least twice the number of votes cast against it. Even domestic institutions are of the view that the offer price was too low and did not reward investors. The major institutional investors in Vedanta include ICICI Pru MF (5.03%), HDFC MF (2.47%), SBI MF (1.12%) and LIC (6.37%). LIC has informally indicated that it would not tender shares at the price offered by Vedanta as it was too low. The proposal will be put to vote on 29 May. The price at which Vedanta Resources can acquire public shares to take its own stake to at least 90% of paid-up capital will be the discovered price via reverse book building. Most proxy advisors have also been asking institutional shareholders not to accept the price offered.

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