#Vedanta DE-LISTING:

Vedanta #VEDL has proposed to de-list the company from both stock exchanges - NSE and BSE.

BOARD MEETING: 18-May-20

PROMOTER: Mr. Anil Agarwal

PROMOTER HOLDING: 50.14%

PUBLIC HOLDING: 49.48%

DE-LISTING PRICE: ₹87.50

The price of ₹87.50 was decided at a +10% premium over the Monday (11-May) closing price of ₹79.

On Tuesday, before the de-listing announcement the shares rallied +13% to close at ₹89.50

After the announcements, the Vedanta ADR on Amercian exchange NYSE was up +25%

#Vedanta DE-LISTING:

As per the official announcement, the de-listing price of ₹87.50 per share is an "indicative offer price" and not finalized yet.

Neither Vedanta or any of it's subsidiaries will have any obligation or restriction to buy at the said indicative price