Vedanta board okays delisting plan; floor price per share unfair, says IiAS

The board of directors of Anil Agarwal-led Vedanta met today to consider delisting proposal of the company. The board approved the same at the meeting.

Proposal by way of special resolution through postal ballot and e-voting, and in this regard the draft of the postal ballot notice and the explanatory statement thereto were also approved, said Vedanta Limited in an exchange filing. 

"We further wish to inform you that the company has received a letter dated May 18, 2020 from promoter company Vedanta Resources that the floor price of the delisting proposal is Rs 87.25 Per share which is determined