On May 12, 2020, billionaire Anil Agarwal announced the intention to take his Indian listed firm Vedanta Ltd private by buying out shares held by the public. The company had said that Agarwal-controlled Vedanta Resources, the promoter of the company, will offer Rs 87.5 per share to nearly 49 per cent public shareholders of Vedanta Ltd to execute the delisting plan.
However, the delisting price did not go down well with the analysts who criticized the company for keeping the price so low against its fair value.
According to a report by Business Standard dated May 14, analysts had said the indicative price announced by the promoter firm Vedanta Resources (VRL) would have to be significantly raised.
