Anil Agarwal & his family own 50.1% of Vedanta, whose shares have fallen more than 40% this year, giving the company a market value of about $4.4 billion
Mining king 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.
Vedanta to consider delisting from BSE & NSE on May 18; delisting price for Vedanta’s shares at Rs 87.50/share
The company said it was willing to accept shares tendered in the offer at 87.5 Indian rupees ($1.16) per equity share, which represents a premium of 9.9% over Monday’s closing stock price.
