The board of Vedanta has approved its parent company Vedanta Resources’ proposal to delist the company stocks from both BSE and NSE by buying back 49 per cent shares held by public shareholders.
The company had also appointed Upendra C Shukla, Practicing Company Secretary as the scrutiniser to conduct the process of the postal ballot seeking investors approval to take the delisting process forward.
Last Tuesday, billionaire Anil Agarwal-owned Vedanta Resources had expressed its subsidiary by buying out 48.94 per cent shares held by retail investors with an investment of ₹16,000 crore, depending on the final price.
