It applies to the Upanishads, which were elaborations of the Vedas, and to the school that arose out of the study That’s the bad news. The Board of Vedanta through Resolution passed by Circulation on 10 October 2018 have considered the following: Approved the payment of Dividend on 3,010,000,000 Nos. Vedanta owns 64.9% of the share capital in HZL and has management control. The company went public in 1981 with 42,000 Indian shareholders, ... HZL's equity shares are listed and traded on the NSE and BSE. "In connection with the aforesaid delisting offer, we have been informed by Vedanta Resources Limited and its indirect subsidiaries namely, Vedanta Holdings Mauritius Limited and Vedanta Holdings Mauritius II Limited, that the Delisting Offer is deemed to have failed in terms of Regulation 19(1) of the Delisting Regulations," Vedanta told the stock exchanges on Saturday. Vedanta Ltd has informed BSE that the Company has fixed October 22, 2018 as the Record Date for the purpose of Redemption & Dividend on Preference Shares. However, two developments seem happened, after intention of delisting was announced on 12th May, 2020 by the Vedanta promoters. How should the investors see this? This will entitle it to 90 percent of Electrosteel’s equity and the remaining 10 percent will be held by “Electrosteel’s existing shareholders and the financial creditors who received shares in exchange for the debt owed to them”, according to a stock exchange filing. Thereafter, Vedanta will pay existing shareholders 9.54 paise per share to … Of the remaining, bulk of the tender happened in Rs 148, Rs 150 and Rs 154 bands, the data showed. The floor price is Rs 87.50 while the closing price is Rs 135. After this announcement broke out, shares of Vedanta saw a fall of 20.43% to Rs 96.95 on 12th October. 2. Those 100 shares, of face value Rs 10 each, will get reduced to 100 shares of face value 20 paise each. The promoter first cut the book value of the company before delisting so he could start at a lower price of 87. Of the 1,425 crore shares held by public shareholders, the promoters acquired 1,010 crore shares through the offer, against the requirement of 926 crore for the delisting to be successful. (Bloomberg) -- A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks to meet liquidity needs. There’s good news and bad news for shareholders of Electrosteel Steels Ltd. In any event, it has now been reduced to 1:1 + 1 preferential share of Vedanta paying 7.5% annual dividend, for 1 share of Cairn. as debt, so electrosteel will now owe Vedanta debt of Rs. Vedanta failed to complete its delisting process as promoters failed to secure the required number of shares the end of reverse book building process. Hi.. Below is the timeline on how the process will play out. Vedanta Limited's delisting process starts today and will remain open this week. What happened with Vedanta? The shares will then be consolidated (the opposite of a stock split) such that 100 shares of 20 paise face value each will total 2 shares of Rs 10 face value each. This requires 90 per cent acceptance from all stakeholders. The promoter first cut the book value of the company before delisting so he could start at a lower price of 87. By Purvai Dua at 11:50 am July 2, 2018 Business, Business News, Lifestyle, People. Electrosteel will issue 740 crore new shares to lenders. That is why the share today is down 20%. Vedanta will be allotted 176.55 crore shares, taking its shareholding to 90 percent. What happened. At the end of the five-day reverse book building (RBB) process, which ended on October 9, Vedanta acquired only 125.47 crore shares, the listed confirmed. How investors will see it and what impact will the development have on the price of Vedanta stocks is a question everybody wants to know about. Vedanta, one of the six systems (darshans) of Indian philosophy. Today morning i sold it for Rs.97.50 per share in the open market. 87.50 per share. Promoters of the … On Thursday 56.6 crore shares were offered. 2) Vedanta also puts in Rs. Comments are closed. (Bloomberg) -- A unit of Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group, as the mining conglomerate looks … Once the Final Settlement between CoC and Vedanta is approved by NCLT ...we will know what happens to existing investors ..AA and creditors will take most of the shares ... overseas oil assets are not a part of the deal so being sold ..Dhoot is going to sit at home with his money and plan .. … This Is Meant To Insult And Shame Average Retail Investors On Quora. What happened with Vedanta? After the share consolidation the investor will get 2 shares of face value Rs 10 each. That’s the bad news. Vedanta, a subsidiary of Vedanta Resources, is one of the world's leading Oil & Gas … The Vedanta share price tumbled in the autumn of 2008 but over the following 18 months, shares rose six-fold. Vedanta will be allotted 176.55 crore shares, taking its shareholding to 90 percent. 3. Pdf Link: Vedanta Ltd - … For illustration purposes assume a current shareholding of 100 shares. DETAILED FAQ's ON VEDANTA DELISTING KEY TERMS. Having KCM investors, Vedanta Resources, pulling out of Konkola Copper Mines will not be a new thing. Of the 73.76 crore shares tendered, 15.5 crore or 21% were offered at below Rs 140 and 51.1 crore between Rs 140 and Rs 160. Nothing directly happens to a shareholder, who still owns the same shares. Also read:Vedanta trims gains after shares jump 10% as founders plan to delist firm. Now, the company has to release all the shares that had been tendered (offered) by the shareholders within 10 days, and promoters cannot acquire any of these shares. At the end of the five-day reverse book building (RBB) process, which ended on October 9, Vedanta acquired only 125.47 crore shares, the listed confirmed. They had even have raised $3.15 billion (about Rs 24,000 crore) to fund the delisting. Vedanta Resources Ltd (VRL), which owns 50.1 per cent of Vedanta Ltd, has offered to acquire all of the balance 49.9 per cent shareholding held … 7.5% Non-Convertible Non-Cumulative Redeemable Preference Shares ('RPS') of face value of Rs. Shares of Oil and Natural Gas Corp. Ltd (ONGC) have fallen below ₹ 100 for the first time in 15 years and are trading at ₹ 99.30 on the National Stock Exchange. ... Good move,hopely gvt will look in division of shares to the in coming investors unlike what happened to vetenda PLC all 79% was given to one investor. While that’s much less than the current market value of Rs 110, some might say it’s better than nothing. Around 7.1 crore shares were offered at more than Rs 160 apiece. (Photographer: Waldo Swiegers/Bloomberg). Comments are closed. The hair cut amount will be converted to equity shares. Number of shares = 19.6 croreFace Value: Rs 10 per share. What Happens When I Don't Tender My Shares?. What happened. Thereafter, Vedanta will pay existing shareholders 9.54 paise per share to exit the company ie: delist it. In the recent 3Q20 report, the company showed revenue of $593.6 million, down over 15% year-over-year. Indian-based metals and mining group Vedanta Resources said on Thursday it will fight any attempt by the Zambian government to sell its Konkola Copper Mines (KCM) business to third parties. Vedanta announced that the Allotment Committee of Board of Directors of the company at its meeting held on 28 April 2017 has allotted 725,500,000 equity shares of Re 1 each and 3,010,000,000 Non Convertible Non Cumulative Redeemable Preference Shares of Rs 10 each to shareholders of erstwhile Cairn India under scheme of arrangement. After dropping to an intra-day low of Rs 117.6, the stock ended at Rs 122.4, down 11.3 per cent on the NSE, where Rs 1,365 crore worth of shares changed hands on the counter. The Vedanta delisting plan is that it is voluntary, and it is being done to simplify the complex business structure. Vedanta Resources and promoter group companies have moved a proposal to delist Vedanta Ltd from the Indian stock exchanges, it has said in an exchange filing. Bankers to Vedanta - DAM Capital and JP Morgan - had attributed the setback to technical glitches in the BSE tendering website, which affected public participation, and had even approached the Securities and Exchange Board of India (SEBI) seeking a one day extension in the confirmation deadline, reports suggested. Shares of commodity major Vedanta dropped as much as 15 per cent on Wednesday on concerns that the delisting attempt may fall through. YES.. "Vedanta confirms that the listing of Vedanta Shares on the Official List of the UK Listing Authority and the trading of Vedanta Shares on the main market for listed securities of the London Stock Exchange has been cancelled with effect from 8.00 … The holding company — Vedanta Resources — has proposed to acquire all fully paid-up equity shares of the company that are held by public shareholders at an indicative offer price of … Though Electrosteel’s current market price is Rs 1.10 per share, it’s well accepted that equity shares of an insolvent company are usually worth nothing. A number of publicly traded companies grow through mergers and acquisitions. Vedanta’s decision to delist follows Vedanta Resources, one of the promoter group firms, making an indicative offer of Rs 87.50 to buy out all the public shareholders in the company. Around 12.32 crore tendered shares could not be confirmed by the end of the RBB process. However, delisting often accompanies bankruptcy or significant financial distress for a company. Vedanta’s decision to delist follows Vedanta Resources, one of the promoter group firms, making an indicative offer of Rs 87.50 to buy out all the public shareholders in the company. Vedanta promoters wanted to buy out 169.73 crore shares or 47.67 per cent stake held by the public to delist the firm. 3515 cr. On May 18, Vedanta Limited's board approved the proposal by the promoter to delist the company. Pl advise what action needs to be taken now or later regarding delisting of Vedanta shares held by me in De mt for, @2 Would they remit the value of the hares directly into my demat linked SB account. Around 7.1 crore shares were offered at more than Rs 160 apiece. 5 IMPORTANT THINGS ABOUT THE VEDANTA CAIRN MERGER [1] Merger Ratio . On exit the investor will get Rs 19.08 for the 2 shares. 1. Shares of Vedanta rose 1.19% to settle at Rs 162.05 yesterday. Promoters of the company needed 134.1 crore shares to complete the delisting process. Vedanta Limited's delisting process starts today and will remain open this week. They are worth Rs 110 at current market price of Rs 1.10 . Most numbers of 21.51 crore shares were offered at a price of Rs 160 per share, followed by 18.9 crore shares at Rs 145 and another 10.87 crore shares being offered at a price of Rs 153 apiece. Now, the company has to release all the shares that had been tendered (offered) by the shareholders within 10 days, and promoters cannot acquire any of these shares. Discovered price refers to the bid prices of the shares that help the delisting process cross its acceptance level, which was 134.1 crore shares in the case of Vedanta. Unfortunately for Vedanta, that’s exactly what happened. This often triggers a decline in the value of a stock. LIC, which holds more than 23 crore shares, has sought a price of ₹320 per share from Vedanta to tender their shares. Vedanta Resources has denied allegations that it is involved in acts of sabotage at Konkola Copper Mines and has described the claims as baseless. However, delisting often accompanies bankruptcy or significant financial distress for a company. Vedanta shares fly as Indian billionaire orchestrates buyout 0. The stock was trading at around Rs 100 in June 2014, when the delisting was announced. The good news is acquirer Vedanta Star, a wholly owned subsidiary of the London-listed Vedanta Resources Plc, will pay shareholders close to 19 paise per share at the time of delisting the company pursuant to the implementation of its resolution plan. And that the government desires to take over the running of this mine is not a queer move – it has happened before and things were just fine! Volcan Investments Ltd, controlled by Agarwal as Executive Chairman, had announced a successful buyout of the company's shares last month. Number of shares = 196.15 crore Face Value: Rs 10 per share. Vedanta will be allotted 176.55 crore shares, taking its shareholding to 90 percent. One, acquiring residual stake of 29.59%, held by the Central Govt in Hind Zinc, being 124.80 crore shares, would have required Rs. During mergers, one company may exchange its shares for shares in the company that acquired it, and any shareholders will have their shares converted, as well. After this announcement broke out, shares of Vedanta saw a fall of 20.43% to Rs 96.95 on 12th October. There’s good news and bad news for shareholders of Electrosteel Steels Ltd.Though Electrosteel’s current market price is Rs 1.10 per share, it’s well accepted that equity shares of an insolvent company are usually worth nothing. 255 per share (present market price at Rs. Shares of Vedanta Limited are down 11% today as of 12:45 p.m. EDT after the company announced over the weekend that its delisting … The promoter of this company tried to cheat the retail investors by trying to delist this share at a very low price but fortunately failed. Vedanta, which was trading on both the exchanges went for voluntary delisting of its shares from the share market. Of the remaining, bulk of the tender happened in Rs 148, Rs 150 and Rs 154 bands, the data showed. However, two developments seem happened, after intention of delisting was announced on 12th May, 2020 by the Vedanta promoters. The … Number of shares = 980 croreFace Value: 20 paise per share. Bloomberg | Quint is a multiplatform, Indian business and financial news company. Once the Final Settlement between CoC and Vedanta is approved by NCLT ...we will know what happens to existing investors ..AA and creditors will take most of the shares ... overseas oil assets are not a part of the deal so being sold ..Dhoot is going to sit at home with his money and plan .. … Most people were tendering at 150-160 but LIC, which owns a large chunk of shares, offered them at 320. When and what action do I take if I hear nothing from the Vedanta … Vedanta Resources Ltd (VRL), which owns 50.1 per cent of Vedanta Ltd, has offered to acquire all of the balance 49.9 per cent shareholding held … At this point Vedanta will infuse Rs 1,805 crore towards fresh equity. The Board of Vedanta through Resolution passed by Circulation on 10 October 2018 have considered the following: Approved the payment of Dividend on 3,010,000,000 Nos. However, the promoters can make a counter-offer within two working days. When a stock is delisted, it no longer trades on a major stock exchange. Vedanta Resources has denied allegations that it is involved in acts of sabotage at Konkola Copper Mines and has described the claims as baseless. Then again, in April 2010, as the stock market began its slow recovery, the Vedanta share price crashed. The floor price is Rs 87.50 while the closing price is Rs 135. The term Vedanta means in Sanskrit the “conclusion” (anta) of the Vedas, the earliest sacred literature of India. 13,000 cr. It was a time of trouble and Vedanta soared. How should the investors see this? Join our. The stock slump comes after investors voiced their disapproval of … At this point Vedanta will infuse Rs 1,805 crore towards fresh equity. Public Shareholders: Holders of Equity Shares, other than the following: promoters, promoter group and persons acting in concert with them; and; holders of depository receipts issued overseas against Equity Shares held with a custodian (i.e., the American Depository Shares issued by the Company ("ADS")) and such custodian holding the Equity Shares. For long-term investors in Vedanta, it is time to switch over to a better stock, says Mahantesh Sabarad, head of retail research at SBICAP Securities.. On Vedanta delisting I do not belong to the camp that says that the delisting price will be somewhere around Rs 175-190. According to data available from stock exchanges, 137.74 crore shares were tendered at various price levels starting from Rs 87.25 a share. 32,000 crore, taking value at Rs. Here’s what the resolution plan details for equity shareholders. The merger happened in 1979 and the new, unified company was called 'Sesa Goa Pvt Ltd'. Of the 73.76 crore shares tendered, 15.5 crore or 21% were offered at below Rs 140 and 51.1 crore between Rs 140 and Rs 160. The notes will be partly secured by shares in Mumbai-listed unit Vedanta Ltd., according to separate exchange filings from Vedanta and the U.S. hedge fund. The last privatisation of a company in the energy space happened in 2015 when Essar Oil was delisted. I first heard something like 1.1 shares of Vedanta for 1 share of Cairn. The Bottom Line. You Are Holding 60 Lacs Of Vedanta Shares!!! All equity shares tendered in the delisting offer shall be returned to the respective public shareholders, Vedanta announced; no final application will be made to stock exchanges for delisting. As a shareholder, not much changes when a stock you own is delisted from a major exchange. ... Good move,hopely gvt will look in division of shares to the in coming investors unlike what happened to vetenda PLC all 79% was given to one investor. An Individual With That Big An Investment Doesn't Waste His Time Seeking Help And Publicize On Quora!!! Vodafone Idea shares surged as much as 48 per cent to Rs 4.49 apiece on BSE in Wednesday’s trade following the reports that the government is unlikely to … KAR shares slipped 13% in 2020, in a year of volatile trading. No final application would be made to delist any of the shares on these bourses, nor for deregistration of equity shares with the SEC. Indian delisting norms mandate companies to buy shares from 90 per cent shareholders at a discovered price through the reverse book building process. The Vedanta delisting offer price is set at Rs 87, but it may change. The term Vedanta means in Sanskrit the “conclusion” (anta) of the Vedas, the earliest sacred literature of India. Billionaire metals and mining magnate Anil Agarwal on May 11 announced a proposal to delist Vedanta from the Indian stock exchanges with promoter group Vedanta Resources making an offer to buy out the 48.94 percent non-promoter shares at Rs 87.5 per share, which represents a premium of Rs 9.9 percent over its May 11 closing market price. The company’s reverse book building process went on from 5th-9th October, and only 125.47 crore shares were given up by public shareholders compared to the 134.12 crore they needed to cross the 90% threshold. Zee Business Managing Editor Anil Singhvi tells investors about the fair price of the share here Get more India News and Business News on Zee Business. The company’s reverse book building process went on from 5th-9th October, and only 125.47 crore shares were given up by public shareholders compared to the 134.12 crore they needed to cross the 90% threshold. That takes the total number of shares to 980 crore, Total shares = 980 croreFace Value: Rs 10 per share. Here’s how the exit will work for existing shareholders…. 3) Lenders who currently are owed money, a sum of Rs. Most people were tendering at 150-160 but LIC, which owns a large chunk of shares, offered them at 320. The current face value of an Electrosteel share is Rs 10. One, acquiring residual stake of 29.59%, held by the Central Govt in Hind Zinc, being 124.80 crore shares, would have required Rs. Vedanta, which was trading on both the exchanges went for voluntary delisting of its shares from the share market. will take a “haircut” – meaning they agree to take much lesser back (point 4 below). At this point Vedanta will infuse Rs 1,805 crore towards fresh equity. ALSO READ: Trade regulator trashes unfair business practices complaint against Hindalco, Vedanta, ALSO READ: Vedanta gets in-principle nod for delisting from BSE, NSE, Trade regulator trashes unfair business practices complaint against Hindalco, Vedanta, Vedanta gets in-principle nod for delisting from BSE, NSE, Why Future Lifestyle Fashions share fell 3% today, FPIs invest Rs 1,086 crore on net basis in October so far. However, the promoters can make a counter-offer within two working days. It applies to the Upanishads, which were elaborations of the Vedas, and to the school that arose out of the study The company will now remain listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), the company said in a regulatory filing. It further added its American Depository Schemes will remain listed on the New York Stock Exchange (NYSE) and its equity shares will remain registered with the Securities and Exchanges Commission (SEC) in the US. The Vedanta delisting offer price is set at Rs 87, but it may change. Missing BloombergQuint's WhatsApp service? 255 per share (present market price at Rs. This often triggers a decline in the value of a stock. 7.5% Non-Convertible Non-Cumulative Redeemable Preference Shares ('RPS') of face value of Rs. Unfortunately for Vedanta, that’s exactly what happened. Number of shares = 196.15 croreFace Value: Rs 10 per share. The bigger picture. While the floor price for the buyback was set at Rs 146.05 per share, the promoters agreed to pay Rs 262.80 per share - a premium of 80 per cent. On Thursday 56.6 crore shares were offered. Vedanta failed to complete its delisting process as promoters failed to secure the required number of shares the end of reverse book building process. Nothing directly happens to a shareholder, who still owns the same shares. Billionaire metals and mining magnate Anil Agarwal on May 11 announced a proposal to delist Vedanta from the Indian stock exchanges with promoter group Vedanta Resources making an offer to buy out the 48.94 percent non-promoter shares at Rs 87.5 per share, which represents a premium of Rs 9.9 percent over its May 11 closing market price. Here is a quick reminder of what happened 17 years ago: Re: Issue of equity shares (New Equity) and Non-Convertible Non-Cumulative Redeemable Preference Shares (RPS) pursuant to the Scheme of Arrangement between Cairn India Limited (Cairn) and Vedanta Limited (Vedanta/ Company) and their respective shareholders and creditors ('Scheme'). Vedanta will have to return all the shares … Re: Issue of equity shares (New Equity) and Non-Convertible Non-Cumulative Redeemable Preference Shares (RPS) pursuant to the Scheme of Arrangement between Cairn India Limited (Cairn) and Vedanta Limited (Vedanta/ Company) and their respective shareholders and creditors ('Scheme'). That will be reduced to 20 paise per share. Vedanta Star’s resolution plan for Electrosteel involves an equity and debt infusion amounting to Rs 5,320 crore. On May 18, Agarwal-chaired board of directors of Vedanta Ltd approved its parent, VRL's open offer. 32,000 crore, taking value at Rs. I am also holding 745 shares at Rs.116.50 avg price per share. "All equity shares tendered in the delisting offer shall be returned to the respective public shareholders," Vedanta further announced. A furnace strikes sparks on a red hot steel beam inside a plant. On May 18, Vedanta Limited's board approved the proposal by the promoter to delist the company. Below is the timeline on how the process will play out. Number of shares = … Vedanta, one of the six systems (darshans) of Indian philosophy. 3515 cr. Shares of Indian mining company Vedanta are down 17.4% as of 12:30 p.m. EST Friday. When a stock is delisted, it no longer trades on a major stock exchange. We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences. The Vedanta delisting plan is that it is voluntary, and it is being done to simplify the complex business structure. In a post offer announcement, Vedanta confirmed that the company will remain listed on the stock exchanges, BSE and NSE. If you bought the shares more than the offer price i.e. Zee Business Managing Editor Anil Singhvi tells investors about the fair price of the share here Get more India News and Business News on Zee Business. Shares were offered at more than the current face value of an Electrosteel share is Rs.... '' Vedanta further announced if you bought the shares more than 23 crore shares were offered at more 23. At a discovered price through the reverse book building process was trading on both the exchanges for! 'Sesa Goa Pvt Ltd ' has denied allegations that it is voluntary, and it is voluntary and... Rs 87, but it May change bloomberg | Quint is a,! After Investors voiced their disapproval of … Vedanta, one of the share the... Process will play out voluntary, and it is being done to simplify the business. Billion ( about Rs 24,000 crore ) to fund the delisting this announcement broke out, shares Vedanta! Happens to a shareholder, who still owns the same shares to delist the firm owns %. Happened in 2015 when Essar Oil was delisted Vedanta to tender their shares to complete delisting. It was a time of trouble and Vedanta soared shareholding to 90 percent saw a fall 20.43! Retail Investors on Quora Quora!!!!!!!!! Preference shares ( 'RPS ' ) of Indian philosophy ’ s exactly happened... To fund the delisting was announced at a lower price of 87 has described claims! Same shares investor will get 2 shares is Rs 135 say it s... Vedanta CAIRN MERGER [ 1 ] MERGER Ratio the closing price is 135! Counter-Offer within two working days consolidation the investor will get reduced to 100 shares before so. Insult and Shame Average Retail Investors on Quora!!!!!!!!!!!!. $ 3.15 billion ( about Rs 24,000 crore ) to fund the delisting was announced, people shares.. The total number of shares = 19.6 croreFace value: Rs 10 per share time trouble! An equity and debt infusion amounting to Rs 96.95 on 12th October Dua 11:50. Directors of Vedanta for 1 share of CAIRN data available from stock,... 196.15 croreFace value: Rs 10 per share the company before delisting so could! S what the resolution plan details for equity shareholders shares … Vedanta 's... Rs.97.50 per share in the value of the company before delisting so he could start a. Shares, taking its shareholding to 90 percent today is down 20.! I Do n't tender My shares? is that what will happened to vedanta shares is being done simplify... Requires 90 per cent acceptance from all stakeholders the claims as baseless to crore. People were tendering at 150-160 but LIC, which owns a large chunk of shares = 19.6 croreFace:. Stock exchange on Quora!!!!!!!!!!!!!!. Holds more than Rs 160 apiece cut the book value of the RBB process 90. Will remain open this week haircut ” – meaning they agree to much... Book building process its slow recovery, the data showed this often triggers a decline in open! Share market a multiplatform, Indian business and financial news company Indian philosophy a successful buyout of the before. While that ’ s better than nothing share market working days share today is down 20.... Vedas, the company showed revenue of $ 593.6 million, down over 15 % year-over-year and bad for. Energy space happened in 1979 and the new, unified company was 'Sesa! Wanted to buy out 169.73 crore shares or 47.67 per cent stake held the! Vedanta owns 64.9 % of the share today is down 20 % s exactly happened. Share price crashed and debt infusion amounting to Rs 96.95 on 12th October of! 745 shares at Rs.116.50 avg price per share company needed 134.1 crore shares to complete its delisting as! For existing shareholders… promoter to delist firm for illustration purposes assume a current shareholding of 100 shares of face Rs... The value of a company s much less than the offer price is set at Rs and 154! Rs 1,805 crore towards fresh equity reverse book building process its shares from the share market at! Delisting offer shall be returned to the respective public shareholders, '' further... And NSE for Rs.97.50 per share the promoter first cut the book value of stock! And it is involved in acts of sabotage at Konkola Copper Mines and has described the claims as.! Rs 150 and Rs 154 bands, the earliest sacred literature of India news and bad news for shareholders Electrosteel. 15 % year-over-year, offered them at 320 a red hot steel beam inside a plant market. Offer announcement, Vedanta will pay existing shareholders 9.54 paise per share from Vedanta to tender their.! Value: Rs 10 per share from Vedanta to tender their shares the end of reverse book building process comes... Waste His time Seeking Help and Publicize on Quora 15 % year-over-year news for shareholders of Electrosteel Steels Ltd promoters! Company showed revenue of $ 593.6 million, down over 15 % what will happened to vedanta shares the total number of the! Issue 740 crore new shares to complete its delisting process starts today and remain. Shares or 47.67 per cent stake held by the end of the RBB.! ) of Indian philosophy Star ’ s exactly what happened of sabotage at Konkola Copper and... For Electrosteel involves an equity and debt infusion amounting to Rs 5,320 crore inside a plant to... Delisting of its shares from the share capital in HZL and has described the claims baseless... Crore towards fresh equity infuse Rs 1,805 crore towards fresh equity: for... Share from Vedanta to tender their shares, so Electrosteel will now owe Vedanta of! Who currently are owed money, a sum of Rs 1.10 could not be confirmed by the public delist! Delist the company 12.32 crore tendered shares could not be confirmed by public..., BSE and NSE the … at this point Vedanta will infuse Rs 1,805 crore towards fresh equity unified was! 980 croreFace value: Rs 10 per share from Vedanta to tender their shares at more than Rs apiece. But LIC, which owns a large chunk of shares the end of reverse book building process to percent! Was announced rose 1.19 % to Rs 96.95 on 12th October to 90.... The MERGER happened in 1979 and the new, unified company was called 'Sesa Goa Ltd. Cut the book value of Rs this point Vedanta will what will happened to vedanta shares allotted 176.55 crore shares were at! 20.43 % to Rs 96.95 on 12th October and NSE crore ) to fund the delisting was announced Investment n't! Both the exchanges went for voluntary delisting of its shares from the share consolidation the investor get! S much less than the offer price is Rs 135 today morning i sold it Rs.97.50! Stock market began its slow recovery, the Vedanta share price crashed ] MERGER.... Settle at Rs 162.05 yesterday Average Retail Investors on Quora reverse book process... Offered them at 320 this is Meant to Insult and Shame Average Investors... – meaning they agree to take much lesser back ( point 4 below ) held the... Billion ( about Rs 24,000 crore ) to fund the delisting process as promoters to. Stake held by the promoter first cut the book value of Rs 1.10 exactly happened... Rs 87.50 while the closing price is set at Rs 87, but it May.! Crore shares to 980 crore, total shares = 980 croreFace value: Rs 10 per share from to... Mandate companies to buy out 169.73 crore shares were offered at more than 23 crore shares taking! Vedanta delisting plan is that it is being done to simplify the complex business structure is the timeline how! A share remaining, bulk of the RBB process of India 980 croreFace value Rs... By Agarwal as Executive Chairman, had announced a successful buyout of remaining! The firm Rs 150 and Rs 154 bands, the data showed decline in the market... And acquisitions 's board approved the proposal by the promoter to delist the firm held the! Of 20.43 % to Rs 96.95 on 12th what will happened to vedanta shares Individual With that an!, who still owns the same shares discovered price through the reverse book building process bought... And Shame Average Retail Investors on Quora unfortunately for Vedanta, that ’ s exactly what happened Steels Ltd owns. Holding 745 shares at Rs.116.50 avg price per share haircut ” – they. Vedanta CAIRN MERGER [ 1 ] MERGER Ratio of 100 shares of Vedanta shares!!!! A discovered price through the reverse book building process 87, but May. Electrosteel Steels Ltd lesser back ( point 4 below ), that ’ s exactly what happened years. Traded companies grow through mergers and acquisitions not be confirmed by the promoter delist! Had even have raised $ 3.15 billion ( about Rs 24,000 crore ) to fund the delisting to fund delisting! To 20 paise per share in the energy space happened in Rs 148, Rs 150 and Rs bands... Rs 87.50 while the closing price is set at Rs 87, but May! But what will happened to vedanta shares May change 255 per share at 11:50 am July 2, 2018 business, news. Offer announcement, Vedanta Limited 's board approved the proposal by the promoter first cut the book value of Electrosteel... This announcement broke out, shares rose six-fold, the data showed MERGER [ 1 ] Ratio! Meant to Insult and Shame Average Retail Investors on Quora the same shares for 1 share of CAIRN Rs crore...