MUMBAI: Billionaire Anil Agarwal’s offer to delist Vedanta Ltd from Indian bourses through his Singapore holding company Vedanta Resources Ltd is likely to leave minority investors feeling shortchanged.
On Tuesday, Vedanta informed stock exchanges that its board will meet on 18 May to discuss the offer by its parent to buy out the public shareholders of the Mumbai-listed Vedanta Ltd at ₹87.5, a cash buyout offer of ₹16,200 crore.
Shares closed at ₹90.2 apiece today, leaving the offer price at a discount to current market price and way lower than the 52-week high of ₹179.95. "For minority shareholders, this offer is coming at too low a price," Dharmesh Kant, and independent market expert, told Mint. “It comes at the bottom of the metals