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Vedanta will get minimal 134 crore shares wanted for delisting

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Vedanta Limited obtained bids for minimal shares wanted to delist the corporate on the final day of the reverse e-book constructing course of.

Data obtainable with BSE confirmed that the corporate recevived bids for over 137 crore shares in opposition to the minimal requirement of 134 crore shares.

Shares of the corporate closed 3.83 per cent increased at Rs 122.10 on Friday, whereas the benchmark BSE Sensex settled 0.81 per cent up at 40,509.

Of the 137 crore shares, greater than 69 crore shares tendered as much as Rs 155 per share, 21 crore at Rs 160 per share and 31.80 crore at Rs 320 per share.

Commenting on the reverse e-book constructing course of, Vedanta founder Anil Agarwal informed information channels that e-book constructing has created a number of momentum and a big portion of institutional and high-net value traders have already tendered their shares.

Earlier, the Stakeholders Empowerment Services (SES) stated Vedanta’s stake in Hindustan Zinc alone is valued at Rs 145. Vedanta held 64.92 per cent within the firm as of June 30. “Hence, investors should not mind bidding at Rs 200-250 per share,” SES stated.

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