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Plan to list other businesses: Vedanta chief
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₹87.5 per share for the buyback. Although, it raised the price later, the delisting attempt failed as Vedanta didn’t receive the required number of shares for the delisting offer to go through.
Earlier in the year, Hindustan Zinc Ltd, (Vedanta Ltd’s subsidiary) proposal to buy zinc international assets from parent (Vedanta resources) for $2.98 billion in cash deal also could not get shareholders’ support. Hindustan Zinc is a subsidiary of Vedanta Ltd where it holds a 64.92 % stake.
However, of the remainder stake, government still holds more than 29%. The fresh move to list its businesses separately thereby could be another attempt to raise funds and reduce the parent and Vedanta group’s debt.
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