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Vedanta shares jump 10% as founders plan to delist firm

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MUMBAI: Shares of Vedanta Ltd surged 10% on Wednesday after the company said its board will consider delisting the firm. At 9.34 am, the stock was at ₹94 on the BSE, up 5% from its previous close.

The promoter group, including Vedanta Resources, owns 50.14% of Vedanta Ltd, while the remaining 49.48% is held by the public.

Vedanta has made an offer of ₹87.50 a share, which is a 2% discount to Tuesday's closing price. At the offer price, the company would have to pay ₹16,200 crore to public shareholders.

As of September, Vedanta had an outstanding net debt of $6.6 billion. The company has debt maturities of $1.9 billion till September 2021 and an annual interest payment of $400 million.

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United States
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