Anil Agarwal's mega bid to take Vedanta private runs into rough weather

In the event, Vedanta RBB fails to get bids for at least 1.34 billion shares--- the minimum required for the promoters to acquire 90 per cent shareholding-the delisting bid would fail

Anil Agarwal’s mega bid to take Vedanta private is at the risk of falling through.

 According to the data provided by the BSE at 7:30 pm, the reserve book building (RBB) offer garnered only 1.25 billion bids, nearly 90 million short of the 1.34 billion required for the offer to succeed. 

An earlier update on the BSE had showed that the RBB got 1.36 billion bids, but sources said these were confirmed bids and several of them were rejected.

The company sought a day’s extension from the Securities and Exchange Board of India (Sebi), citing a technical glitch at the exchange