Home / Companies / News /  Vedanta says delisting offer deemed to have failed

New Delhi: Vedanta Ltd on Saturday said its delisting offer is deemed to have failed as per terms of delisting regulations.

125.47 crore shares were validly tendered by public shareholders, the company said in a stock exchange filing.

"Vedanta & its indirect subsidiaries namely, Vedanta Holdings Mauritius & Vedanta Holdings Mauritius II (collectively to be referred as ‘Acquirers’) have been informed that the Delisting Offer is deemed to have failed," the company said.

"Accordingly, the acquirers will not acquire any equity shares tendered by the public shareholders in the delisting offer and the equity shares of the Company will continue to remain listed on the stock exchanges. The company’s American Depositary Shares (“ADS") will continue to remain listed on the New York Stock Exchange (“NYSE") and the company’s equity shares will continue to remain registered with the Securities and Exchange Commission (“SEC")," the Anil Agarwal-led company added.

Vedanta closed at 122.10 on the BSE on Friday, a gain of 3.83 per cent over the previous close.

The promoters have raised $3.15 billion (about 24,000 crore) to fund the delisting. This funding can support a price of 140-145 per share.

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