Vedanta open offer subscribed just 58% after failed delisting bid

Following open offer, promoter holding in Vedanta is set to rise by 10%. Currently, promoter group holds 55.1%. Had the maximum 651 mn shares been tendered, promoter stake would have risen to 72.6%

Over 377 million shares were tendered in the voluntary open offer launched in Anil Agarwal-owned Vedanta. After a failed delisting bid, promoter Vedanta Resources offered to buy up to 651 million shares (17.5 per cent equity) at Rs 235 apiece from the public shareholders of the company. However, it could mop up only 58 per cent of the maximum shares it intended to buy through the open offer.

Following the open offer, the promoter holding in Vedanta is set to rise by 10 per cent. Currently, the promoter group holds 55.1 per cent stake. If the maximum 651 million shares