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Wednesday
May 2021
7:10 PM IST
News Headlines
Tour of Sri Lanka: Two-way fight for India captaincy between Hardik and Shikhar        India projected to grow at 10.1% in 2022 but outlook for 2021 highly fragile: UN        Rockets kill 2 Israelis; 28 die in Gaza as Israel hits Hamas        Delhi reports 12,481 Covid cases, 347 deaths        Kerala woman killed in Palestinian rocket strike in Israel        Kerala''s ''Iron Lady'' K R Gowri Amma no more        Virat Kohli, Ishant Sharma get first dose of vaccination        Sensex surges over 350 pts in early trade; Nifty tops 14,900        Israeli police, Palestinians clash at Jerusalem holy site        Had govt done its job, it would not have come to this: Rahul on foreign aid        Himanta Biswa Sarma sworn-in as 15th Chief Minister of Assam        Obesity and Bariatric Surgery        COVID-19 pandemic: Centre releases Rs 8923.8 cr to Panchayats in 25 states        BJP announces Dr Himanta Biswa Sarma as Assam Chief Minister        Debris from China''s disintegrating rocket falls into Indian Ocean        Kerala poet''s FB account ''suspended'' for posting satire clip on BJP poll defeat        TV journalist Vipin Chandh dies of COVID-19        Kerala adds 35,801 new COVID-19 cases, 68 more deaths        US Navy seizes weapons in Arabian Sea likely bound for Yemen        EU doesn''t renew order for AstraZeneca vaccine        
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Business News
Vedanta plummets over 24 pc after delisting fails
 
New Delhi, Oct 12 (PTI) Shares of Vedanta on Monday plummeted over 24 per cent after the company's delisting went from almost-a-success to failure on account of a large quantity of unconfirmed orders.

The stock tanked 23 per cent to Rs 94 on BSE. On NSE, it tumbled 24.37 per cent to Rs 92.15.

In a regulatory filing, Vedanta said its buyback offer is deemed to have failed as per the terms of the delisting regulations after promoter Vedanta Resources did not receive the required number of shares to delist the firm.

A large number of unconfirmed bids and some technical glitches in the tender process are likely to have contributed to the failure.

The BSE on October 9 evening showed 137.74 crore shares, out of a total 169.73 crore shares held by the public, to have been offered for sale to promoters, larger than the threshold of 134.12 crore.

Some bids, however, were pending confirmation from custodians.

Reconciliation of data led to the number of shares offered for sale being trimmed to 125.47 crore.

This, Vedanta said, was "less than the minimum number of offshore shares required to be accepted by the acquirers in order for the delisting offer to be successful."

"Accordingly, the acquirers will not acquire any equity shares tendered by the public shareholders in the delisting offer and the equity shares of the company will continue to remain listed on the stock exchanges," it said.

All equity shares tendered in the delisting offer shall be returned, it added.


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KERALA NEWS
Kerala woman killed in Palestinian rocket strike in Israel
 Idukki: A Keralite woman working in Israel was killed allegedly in a Palestinian rocket strike on Tu  
Kerala poet''s FB account ''suspended'' for posting satire clip on BJP poll defeat
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Kerala adds 35,801 new COVID-19 cases, 68 more deaths
INTERNATIONAL NEWS
Rockets kill 2 Israelis; 28 die in Gaza as Israel hits Hamas
 Gaza City: A confrontation between Israel and Hamas sparked by weeks of tensions in contested Jerusa
Israeli police, Palestinians clash at Jerusalem holy site
Debris from China''s disintegrating rocket falls into Indian Ocean
US Navy seizes weapons in Arabian Sea likely bound for Yemen
NATIONAL NEWS
Delhi reports 12,481 Covid cases, 347 deaths
 New Delhi: The national capital continues to register a dip in daily COVID-19 cases, as the city rec
Had govt done its job, it would not have come to this: Rahul on foreign aid
BJP announces Dr Himanta Biswa Sarma as Assam Chief Minister
Mumbai civic body is suppressing COVID-19 death toll: Fadnavis
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