अनिल सिंघवी- रिटेल निवेशकों के पक्ष में हो डीलिस्टिंग प्राइस... बाजार भाव से अच्छा प्रीमियम मिले... निवेशक डीलिस्टिंग में शेयर टेंडर की जल्दबाजी ना करें#EditorsTake #Vedanta #VedantaDelisting @AnilSinghvi_ @AnilAgarwal_Ved @VedantaLimited pic.twitter.com/Df0Dycy7IZ, — Zee Business (@ZeeBusiness) October 5, 2020. Will they submit a bid at less than that? 128 per Share that the $ 3.15 Bn indicates. What were the problems in the Vedanta delisting? Vedanta delisting: Anil Agarwal's latest move raises a few questions On May 12, Vedanta said it plans to de-list from Indian stock exchanges Deadline for counter-offer is Tuesday October The floor price for the Delisting Offer, determined in accordance . Their view was that promoters were grossly undervaluing Vedanta. The same has been certified by Price Waterhouse & Co LLP pursuant to its certificate dated May 18, 2020. Vedanta), where is the money ? Nevertheless the Vedanta group is not playing the game of corporate simplification for the first time. amount of interest as well at a very low rate, may be 5-6%. The company may want to take advantage of this, Singhvi said. 175 and Rs. The same has been certified by Price Waterhouse & Co LLP pursuant to … Vedanta Delisting: The de-listing offer of Vedanta Ltd has failed to de-list the shares from the bourses, Vedanta’s UK promoters required 134 crore shares. prevailing price of, Question The Sebi valuation of the stock gives the floor price value of Rs 87.50. On 11th day of May 2020 Vedanta delisting from the Indian stock exchanges was broadcasted. First of all, Indicative floor price of Rs 87.5 per share has nothing to do with delisting price. We expect the delisting to be They had proposed a floor price of Rs 87.25 per share. Read more about Vedanta delisting bid 'not serious', says Stakeholders Empowerment Services on Business Standard. biggest joker in the pack is LIC, holding 6.37% of the issued capital. The entire delisting will cost Vedanta Ltd over INR 16,200 crores overshadowing withered conditions of Vedanta in past due to metal and oil prices and this bulletin is not a mundane given to fact that it is Nifty 4.26% stock that is getting delisted and there is huge public investment in this posing a fear in minds of people who invested that "What will happen to my money after the process? weeks back. The floor price for the Delisting Offer, determined in accordance with the Delisting Regulations, is INR 87.25. Singhvi said that he wished that investors get maximum price, especially the retail investors who should get the best opportunity to get the best price. “The stock has been trading at a discount to intrinsic value of its resources and the success of the delisting would depend on the extent of this gap and the promoters’ willingness to bridge it,” said Sumangal Nevatia, analyst, Kotak Securities. Vedanta chairman Anil Agarwal, in an interview with CNBC-TV18, said the company will go for a counteroffer for the buyback of shares "if need be". Vedanta delisting: We feel Rs 320 is the fair price, says LIC MD Updated : October 09, 2020 10:53 AM IST Life Insurance Corporation (LIC) Chairman MR Kumar, in an interview with CNBC-TV18, said that Rs 320 is a fair price for Vedanta delisting. Here’s what you don’t know about Vedanta Limited delisting and the possible Final Price of ₹350/share Published on August 28, 2020 August 28, 2020 • 112 Likes • 60 Comments Before the ultimate approval and shareholders can still find an apt exit in the secondary market if the price is above the delisting offer price. Vedanta Group requires another 7.62 crore shares for the delisting to succeed. On the other hand they add some Vedanta Limited's delisting process starts today and will remain open this week. greenshoe. Later in June, in a special resolution by postal ballot, 93.3 per cent of all shareholders and 84.3 per cent of public shareholders approved delisting of shares of Vedanta. In May, the promoters of Vedanta had announced a delisting offer at Rs 87.5 per share. Vedanta also revised its book value from Rs 146 to Rs 89 after announcing delisting and hence said they are giving a fair price to the shareholders by keeping the floor price … Arriving at the delisting price. On June 25, Vedanta got shareholder approval for voluntary delisting of equity shares from the NSE and the BSE. Pricing of some of its key products have corrected climbed the conveyor belt with no stop button. The … Vedanta), where is the money ? Obviously, they are waiting for delisting though reason given was the Discovered price refers to the bid prices of the shares that help the delisting process cross its acceptance level, which was 134.1 crore shares in the case of Vedanta. given dividend in FY 20 significantly below its dividend policy. How should the investors see this? The floor price for the Delisting Offer, determined in accordance with the Delisting Regulations, is INR 87.25. On Aug 19, the promoters successfully raised $1.40 billion in bonds. Check Business Breaking News Live on Zee Business Twitter and Facebook. Well, this is not the first time that a company has wanted to get delisted. won an award of  $ 499 Mn against Govt of India in Supreme Court just two There may be no downside. The best thing for all VEDL Shareholders will be to keep buying HIND. ZINC. 136 Rs per share is almost the CMP today. Merchant banker friends tell me promoter company for delisting is the dividend from Vedanta Ltd, which has All these, point towards a brighter future for Vedanta and hence perhaps a greater appetite of Vedanta promoters to make the delisting successful. Here's a FAQ regarding the delisting process: how is the exit price determined, what happens in case of failure, etc. This funding can support a price of Rs 140-145 per share. The shares of Vedanta Resources fell nearly a percent and a half on Tuesday morning (May 19) after the Board of Directors approved the delisting of the stock at ₹87.5 a … Thomas Cook –TUMHARI YEH DAAL NAHI GALNE DENGE Com... SEBI OPEN LETTER—INVESTOR PROTECTION, SCORES. delisting of Vedanta will be a positive for ratings of the parent UK company According to data available from stock exchanges, 137.74 crore shares were tendered at various price level starting from Rs 87.25 a share. Anil Agarwal has now The exit price was to be determined by a reverse book building process. The making the delisting offer, another reason for Anil Agarwal not to baulk at the Vedanta Resources has secured $3.15-billion in debt funding to fund delisting. Post pandemic. Investors must ignore the floor price, book value and 52-week low price, as they do not reflect the true value of Vedanta shares. and closes Friday October 9. The proceeds will primarily be used to support the intended offer to buy out minority shareholders in Vedanta. For those who are not happy with the price offered by the promoters of Vedanta, not participating in the buyback is an option. This comes to a dividend of Rs 84 per Many investors bought this stock at Rs 250-Rs 300 and may not want to give back the shares in haste. Subscribe on YouTube. See Zee Business Live TV Streaming Below: Singhvi advises investors to wait for the right opportunity. This was not the final offer price for the delisting. 250 or Vedanta decided on a low price of ₹87.50. million dollar question is: Will the delisting be successful ? This comes to a dividend of Rs 84 per Vedanta Ltd had acquired a 58.5% stake in Cairn India for $8.67 billion in 2011. Since the delisting was announced, the stock price of Vedanta has rallied by 35% and has been one of the best performing stocks. But, at … He however, said that the valuation can be different form the view point of an investor and promoters. hugely supplement the firepower for the promoters to make a sweet deal for delisting, The delisting of Anil Agarwal - led Vedanta Ltd. saw a turn in fortune in the late evening hours of Oct. 9 - the last day of the reverse book building process in which public shareholders can tenders their shares if they want to participate in the delisting. and closes Friday October 9. The other reason may be the case as the company may want to take advantage of the lower stock valuations on the stock markets. promoter company for delisting is the dividend from Vedanta Ltd, which has Vedanta Ltd stepped closer to being delisted from Indian bourses after 137.74 crore shares were tendered at the close of the buyback offer made by the promoters. Considering that Mr Agarwal can gain immensely by successfully delisting the company, a final price of ₹300 to ₹350/share is possible. Vedanta told the exchanges about a delisting offer at a price of Rs 87.5 per equity share. HZL Committee of will he let it go for Rs. HZL is … Together with the 20,000 Cr cash it is already sitting on, they could Vedanta  PA was announced today. Analysing their purchases, it appears that they may have purchased 25 per share ? The only source of additional funding for the Ask SEBI to look into Corporate Governance issue as well as safeguarding of interest of small shareholders. greenshoe. Attributing the move to go private to promoters' debt repayment pressures, the advisory said, 'Vedanta delisting at a floor price of Rs 87.50 is opportunistic. Anil Agarwal is taking Vedanta Ltd private. Global brokerage CLSA has an outperformed rating on Vedanta and it cut the target price to Rs 118 from Rs 133. Analysts are quick to “predict” a possible final delisting price of about ₹140/share. The promoters have raised $ 3.15 billion (about Rs 24,000 crore) to fund the delisting. So, in the case of huge success, the Vedanta delisting is expected to take place around the upper hurdle and those who have bid for delisting will have to either accept that or to decline that rate by cancelling their bid. 06-10-2020. He said that he will informm what to do with their shares at the right time. leakage”. Let's hope we get 200. What is the delisting process through reverse book building? "Not to fall prey," warns against additional charges from January 1, Indian Railways New Year gift to rail passengers: 8 new trains starting this year, check IRCTC full list here, LPG gas cylinder price just got hiked - on first day of January 2021 ! The same has been certified by Price Waterhouse & Co LLP pursuant to … cash & existing borrowings available with Vedanta, that makes it  50,500 Cr dividend possibility. Attributing the move to go private to promoters' debt repayment pressures, the advisory said, "Vedanta delisting at a floor price of Rs 87.50 is opportunistic. RBB opens on Monday October 5 Great action on first day of January series; Anil Singhvi recommends a Buy, Top Stock Market Tips: Anil Singhvi lays down the roadmap for 2021, says eventful year coming for traders, Android 11 for Galaxy Z Flip with One UI 3.0 starts rolling out, Do UPI transactions or payments? This was not the final offer price for the delisting. Then it had to decide on a minimum floor price at which the shares would be bought during the delisting period. At Rs 125 per share, the price will be at 43 per cent premium to the indicative floor price of Rs 87.5 a share. A month later, a postal ballot revealed that 93.3% of all shareholders and 84.3% of public shareholders had approved the delisting. LIC, Citibank, HDFC Mutual Fund and ICICI Prudential Mutual Fund. This was a 9.9% premium over the closing market price of Rs 79.6, as of 11th May 2020. have already been obtained for 15,500 Cr of borrowing. Without Wow! The delisting of Anil Agarwal - led Vedanta Ltd. saw a turn in fortune in the late evening hours of Oct. 9 - the last day of the reverse book building process in which public shareholders can tenders their shares if they want to participate in the delisting. *Delisting floor price is calculated by SEBI formula ( i.e. 128 per share of We take a look at the process of delisting and the how Vedanta fell short of garnering the threshold amount of 90% of shares of the company, even after public records initially showed that offers by shareholders had crossed that threshold. Check new rate here, CBSE Class 10, Class 12 exams 2021: How to download datesheet on cbse.nic.in and other latest updates here, Mutual Fund Investment – These 3 MFs to give BUMPER returns in 2021; Anil Singhvi gives investment strategy, Rupee slips 4 paise to 73.11 against US dollar in early trade. Vedanta PLC was delisted at a steep premium It may be recollected that back in 2018, Vedanta Resources had been delisted from the London Stock Exchange. Investors must ignore the floor price, book value and 52-week low price, as they do not reflect the true value of Vedanta shares. Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. this and may therefore not be willing to tender below Rs. Block HZL Move to raise DEBT as a minority shareholders. The same has been certified by Price Waterhouse & Co LLP pursuant to its certificate dated May 18, 2020. As per the current Vedanta share price trends, it has strong support at Rs 110 and has strong hurdle at Rs 140 to Rs 145 levels. The discovered price is the price tendered by shareholders at which the company is able to cross the threshold of 90% stake required to complete the delisting process. The offered closed on Friday. Vedanta Delisting. Anil Agarwal led promoter group said they are exploring all the possibilities including a counter offer on Tuesday. Deadline for counter-offer is Tuesday October The indicative offer price is at an about 10 per cent premium to the trading price of Vedanta on May 11, the day before the delisting announcement was made. given dividend in FY 20 significantly below its dividend policy. will pay a massive dividend to the UK parent post the delisting. Paying that much as dividend to VRL by VEDL is amazing! that LIC do not offer shares below the cost . The floor price for tendering the shares has been set at Rs 87.25 by the company. If this 35,500 Cr, ACCELYA Open offer - Full Interest must be paid. 175. Question They had proposed a floor price of Rs 87.25 per share. promoters to make the delisting successful. On the 18th of May, the Board of Directors of Vedanta Ltd held a meeting to decide whether Vedanta Ltd should be delisted or not. have already been obtained for 15,500 Cr of borrowing. Anil Agarwal publicly labels the dividend paid on  49%+ public shareholding of Vedanta as “a Shareholders. Delisting also means that Vedanta will be subject to less SEBI scrutiny and can manage with lesser disclosures. share from HZL to Vedanta. with the Delisting Regulations, is INR 87.25. This comprises $1.75 billion in a three-month term loan and $1.4 billion of three-year amortising bonds having 13% yield. If delisting fails, expect a dividend of ₹40/share for the next six years, a yield of 30%. On the final day of the reverse book building process, Anil Agarwal’s Vedanta Group received bids for 137.46 crores shares at various prices as the mining major looked to go off the bourses. almost half their holding or 15.35 Crore shares at around Rs. The market knows Or Rs. Crisil ratings 249), it is highly Vedanta held 64.92 per cent in the company as of June 30. Here’s what you don’t know about Vedanta Limited delisting and the possible Final Price of ₹350/sharehttps://www.linkedin.com/pulse/heres-what-you-dont-know-vedanta-limited-delisting-chandavarkar. While Vedanta has been able to mobilise USD 3.15 billion, albeit at a steep cost, to fund delisting, it is now severely limited with no further opportunity to mobilise more money. Question therefore is that beyond the $ 3.15 Bn already raised (Rs. unlikely that their average cost of all their purchases would be less than Rs. The mining baron is looking to de-list the entity from the domestic bourses as it announced plans to acquire the shares held by the public at a price of Rs 87.5 per share. In the past, there have been several companies that have been delisted from NSE and BSE. The Market Guru said that this can be ensured by the big four investors viz. About 126.85 crore shares of Vedanta have been tendered by the public shareholders in the buyback at 1 pm on Friday, according to BSE. therefore is that beyond the $ 3.15 Bn already raised (Rs. On price and counter offer by the Vedanta promoters, the Market Guru said, "Once the tender of Vedanta shares is complete, it becomes important to know at what price the delisting takes place. Earlier in 2018, Vedanta Resources, the parent company of Vedanta Ltd had delisted from the London Stock Exchange (LSE) at a 27% premium to the last closing price. DETAILED FAQ's ON VEDANTA DELISTING KEY TERMS. Singhvi said that he wished that investors get maximum price, especially the retail investors who should get the best opportunity to get the best price, Copyright © Zee Media Corporation Ltd. All rights reserved, Record-setting ''bomb cyclone'' batters Alaska's Aleutian Islands with hurricane force, Happy New Year for PNB Futures! This may be his S&P has already stated that delisting of Vedanta will be a positive for ratings of the parent UK company making the delisting offer, another reason for Anil Agarwal not to baulk at the discovered price. The share tendering process was tepid till October 8 but it gained momentum on the final day and Vedanta looked on course to a successful delisting. He said that he did not expect the delisting to happen below Rs 200. Here’s what you don’t know about Vedanta Limited delisting and the possible Final Price of ₹350/share Published on August 28, 2020 August 28, 2020 • 112 Likes • 60 Comments PA was announced today. Even though Vedanta Resources decided to buy back the public shareholding of Vedanta Limited, the delisting will be done through the procedure of reverse book building. Investors must bid at a much higher price than the offer price or prevailing market price. Vedanta says delisting offer deemed to have failed ... a 6.37 percent stake in the company, tendered all its shares at Rs 320 which is a 267 percent premium over the floor price of Rs 87.25. The same has been certified by Price Waterhouse & Co LLP pursuant to its certificate dated May 18, 2020. These four investors will decide what the delisting price of Vedanta should be. The reverse book building process will end at 3.30 pm today. Earlier in 2018, Vedanta Resources, the parent company of Vedanta Ltd had delisted from the London Stock Exchange (LSE) at a 27% premium to the last closing price. share from HZL to Vedanta. Either the shareholders accept the price basis the reverse book building offer or else Vedanta will have to return this loan. 269 and closing of the quarter was around Rs. The only source of additional funding for the Vedanta announced on Saturday that it had failed to garner the number of shares required to complete its delisting process from the stock market. All these, point towards a pandemic. Vedanta LIC has a 6.37 percent stake in Vedanta. around Rs. What is the delisting process through reverse book building? between Rs. readying its war chest to pay a massive dividend to Vedanta Ltd which in turn The floor price is Rs 87.50 while the closing price is Rs 135. Under Sebi rules, promoters will have to acquire at least 39.86% stake (1.48 billion shares) from public to ensure successful delisting While Vedanta has been able to mobilise USD 3.15 billion, albeit at a steep cost, to fund delisting, it is now severely limited with no further opportunity to mobilise more money. Life Insurance Corporation (LIC) MD Vipin Anand, in an interview with CNBC-TV18, said that Rs 320 is a fair price for Vedanta delisting. 50 per share ? Fair value much higher than floor price Kshitij Bhargava. Anil Agarwal publicly labels the dividend paid on, HZL is Anil Agarwal has now Huge impairment was taken in Q4 results based on then Directors last Thursday- 22.09.20, approved a Rs 5000 Cr NCD issue, including vol weighted average price 60 days prior to the date of intimation) Tags delisting Vedanta Subscribe to Moneycontrol Pro at ₹499 for the first year and get access to exclusive offers. therefore is that beyond the $ 3.15 Bn already raised (Rs. prevailing price of  crude oil at around He said that a company like Vedanta may not have problems with disclosure requirements. After a month-long hustle, Vedanta Limited finally announced that it had failed to get delisted as it couldn’t acquire adequate shares from the shareholders. Attributing the move to go private to promoters' debt repayment pressures, the advisory said, "Vedanta delisting at a floor price of Rs 87.50 is opportunistic. This The promoter holding currently 50.14%. Next block higher dividend payout from HZL. with the Delisting Regulations, is INR 87.25. Crisil ratings Offer price of Rs 87.5 akin … give a dividend of Rs 35,500 Cr from HZL. At the price of Rs87.50, the total outflow for Vedanta Resources on account of the delisting and buying out public shareholders will be Rs16,218cr. Delisting also means that Vedanta will be subject to less SEBI scrutiny and can manage with lesser disclosures. There has to be a balance between the delisting price offered and fair value of the stock to make delisting process successful. Add the two loans ($3.15 billion) and divide by the potential number of tendered shares (between 1.48 to 1.85 billion shares). far beyond the Rs. 200. 13. Therefore, the lowest price at which the company can complete the acquisition of 90% of shares is the discovery price. Investors must bid at a much higher price than the offer How can this be done? Vedanta Limited's delisting process starts today and will remain open this week. So far so good. Delisting can be voluntary or involuntary decision. HIGHER VALUATION OF HIND ZINC WILL BY DEFAULT increase valuation of VEDL. only shot, he may not even make a counter-offer. S&P has already stated that give a dividend of Rs 35,500 Cr from HZL. Directors last Thursday- 22.09.20, approved a Rs 5000 Cr NCD issue, including 200 per share. Big relief! During the delisting, the company has to give high price, he added. weeks back. Vedanta brighter future for Vedanta and hence perhaps a greater appetite of Vedanta On May 12, the promoter group, led by Vedanta Resources, had shared an indicative offer price of Rs 87.5 a share for delisting. Huge impairment was taken in Q4 results based on then favourably since the delisting was announced. 128 per share of Vedanta), where is the money ? This was a 9.9% premium over the closing market price of Rs 79.6, as of 11th May 2020. The floor price is Rs 87.50 while the closing price is Rs 135. The reverse book building process started on October 5. This would If this 35,500 Cr  dividend is supplemented by about Rs 15,000 Cr Agencies. 128 per share of The floor price for the Delisting Offer, determined in accordance with the Delisting Regulations, is INR 87.25. IT IS SEBI's job of safeguarding minority shareholders as well as small retail shareholders of VEDL. discovered price. As per the current Vedanta share price trends, it has strong support at Rs 110 and has strong hurdle at Rs 140 to Rs 145 levels. Stakeholders Empowerment Services (SES) says Vedanta’s stake in Hindustan Zinc alone is valued at Rs 145. $ 20, it is now $ 40. Emkay sees the fair value of the delisting at Rs 170, which is 24 per cent higher than the prevailing market price of Rs 137. climbed the conveyor belt with no stop button. NPCI shoots message to all! Mining baron Anil Agarwal-controlled Vedanta Ltd may suspend the delisting plans for a while as the premium over the floor price demanded by the shareholders is unaffordable for promoters. HZL Committee of thereabouts, in the quarter ending 30/6/17 (price at opening of the quarter was He said that there are only two reasons why a company wants to get delisted – one is that the company wants to be free from the requirements of disclosures and the second and the most important reason is that the valuation of shares are much more than the stock market price. On the 18th of May, the Board of Directors of Vedanta Ltd held a meeting to decide whether Vedanta Ltd should be delisted or not. The Zee Business Managing Editor Anil Singhvi tells investors about the fair price of the share here. 13. through. Vedanta had set a floor price for the delisting offer at Rs 87.25, for which it was severely criticised by market experts and analysts. Vedanta closed at Rs 122.10 on the BSE on Friday, a gain of 3.83 per cent over the previous close. delisting is of strategic importance to Mr. Agarwal's future plans for many reasons, RBB opens on Monday October 5 Shares of the company on Tuesday surged almost 12% to close at Rs 89.30 . Together with the 20,000 Cr cash it is already sitting on, they could readying its war chest to pay a massive dividend to Vedanta Ltd which in turn Read more about Vedanta delisting fate to be known next week, price likely at Rs 160-170 on Business Standard. The floor price for the Delisting Offer, determined in accordance . Vedanta delisting: At what price must investors sell shares? The indicative offer price is at an about 10 per cent premium to the trading price of Vedanta on May 11, the day before the delisting announcement was made. 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