InvestorQ : How is Vedanta progressing with its delisting plan for the Indian subsidiary?
Anamika Sodhani made post

How is Vedanta progressing with its delisting plan for the Indian subsidiary?

Answer
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Angel dcosta answered.
2 months ago


Vedanta Resources has raised $1.40 billion via bonds to fund the delisting of shares of Vedanta Ltd, which is currently listed on NSE and BSE. These are 3-year amortizing bonds with an annual coupon rate of 13%.

Vedanta has already received shareholder approval for delisting the company from the bourses. The proceeds of the bonds will be deposited in an offshore escrow account till the conclusion of the bidding process aimed at delisting the Indian subsidiary.

The bonds will be listed on the Singapore Exchange Securities Trading Limited or the SGX-ST for the listing of and quotation in the market. Vedanta was looking at the delisting to streamline its overall group ownership and make the structure as simple as possible.