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LIC Distress Vedanta’s delisting plans; shareholders’ demand overpriced

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Mining baron Anil Agarwal-manage Vedanta Ltd may put up the delisting plans for a while as the premium over the floor price required by the shareholders is overpriced for promoters. The promoters will give back the shares offered in the delisting process to the individual public shareholders. Vedanta took off Rs 17,132 crore from books on the disability of assets in oil and gas, copper, and iron ore businesses. It resulted in a reduction in book value to Rs 89 from Rs 147. 

 

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October 12

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