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Vedanta tanks 10% as delisting offer fails; Co to mull future action today

The promoter and management committee of Vedanta are scheduled to meet today to discuss the next course of action after the failed delisting attempt.

Vedanta
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In May, the promoters of Vedanta had announced a delisting offer at Rs 87.5 per share.

SI Reporter Mumbai
Shares of Vedanta tanked 10 per cent to Rs 109.90 on the BSE in the early morning trade on Monday, after the company announced the failure of delisting offer as the promoters failed to garner the required number of shares.

The stock trades in the futures & option (F&O) segment, which has no circuit limits. Till 09:23 am, a combined 2.4 million equity shares had changed hands on the NSE and BSE. There were pending sell orders for around 28 million shares on both the exchanges.

Promoters of the diversified metal and mining company required 1.34 billion shares to successfully