InvestorQ : What happens to me if I have surrendered shares to Vedanta for delisting but am yet to get back my shares into the demat account?
Debbie Mascarenhas made post

What happens to me if I have surrendered shares to Vedanta for delisting but am yet to get back my shares into the demat account?

Answer
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Arti Chavan answered.
2 weeks ago


Vedanta may have withdrawn its offer but like in your case, it has left thousands of investors in the lurch. The stock is down 20% on Monday and could go down further. On the other hand, investors who had surrendered shares for the buyback are stuck.

Here is why they are stuck. While the shares have been released, it would take 2 days for the shares to be credited into the respective demat accounts. That means; you get shares in your demat account by 13 October evening and can only sell it on 14 October, Wednesday.

While Vedanta withdrew its delisting offer due to insufficient demand, what most people have not understood is the concept of unconfirmed bids. It is unclear how the company could withdraw the delisting offer after announcing on Friday that it had got more shares than required.

Some of the proxy firms are already rooting for a detailed investigation by SEBI into the price movements around the slew of announcements made by Vedanta and the lead managers for any signs of insider trading in Vedanta by better informed sources.