InvestorQ : What was the outcome of the Vedanta board meeting for delisting?
Juvina Maggie made post

What was the outcome of the Vedanta board meeting for delisting?

Answer
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diksha shah answered.
4 months ago


In its latest board meeting, Vedanta secured the approval of two-thirds of its shareholders to delist the company from the Indian stock exchanges. Nearly 93.3% of the votes were for the delisting while only 6.7% voted against the delisting. The proposal required 67% of the votes in favour for the delisting proposal to be taken up.

Vedanta Resources of UK owns 50.1% of the capital of Vedanta Ltd while the balance 49.9% is held by institutional and retail investors. Now arises the bigger task for Vedanta of securing the approval of minority shareholders where the domestic institutions like LIC are expected to play a more decisive role. Current price is much higher than delisting price.