Vedanta`s Open Offer
| Case Code: FINC185 Case Length: 9 Pages Period: 2020-2021 Pub Date: 2021 Teaching Note: Available |
Price: Rs.200 Organization: Vedanta Resources Limited Industry: Metals & Mining Countries: India Themes: Open Offer, Investment banking |
Abstract Case Intro 1 Excerpts
Introduction
In October 2020, Vedanta Resources Limited (VRL), a diversified mining company from London, UK, made an unsuccessful attempt to delist its profitable and cash-rich operating Indian subsidiary Vedanta Limited (VL) from the Indian stock market (Refer to Exhibit I to know more about VRL and VL). The attempt failed as VRL received fewer bids (1.25 billion shares) than needed (1.34 billion shares ) at its offer price of Rs. 87.50 per share while VL’s per share market price was around Rs. 120 and the majority of shareholders were tendering their shares at Rs. 320 per share..
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