 "Markets")
More companies could delist
Delisting of companies could gain traction with some promoters eyeing to wrestle full control, taking advantage of the drop in share prices triggered by the Covid-19 pandemic. Closely after Anil Agarwal-led Vedanta announced its delisting plans, the Street was abuzz that London-headquartered Diageo may soon make a bid to take United Spirits private. Investment bankers refrained from naming specific companies, but more promoters are toying with the idea. “For cash-rich promoters, it is good time to delist. The stock prices as well as investor expectations are low. Also, the new framework for delisting makes it relatively easier,”
