Vedanta delisting bid 'not serious', says Stakeholders Empowerment Services

Offer price of Rs 87.5 akin to "questioning wisdom of investor", says governance firm.

The proposal to take Vedanta private by billionaire Anil Agarwal-led promoter firm Vedanta Resources has run into rough weather with governance firm Stakeholders Empowerment Services (SES) questioning the fairness of pricing.

“It can be said that offer is not serious, as expecting that investors will lap up the offer at a price which is less than 50 per cent of 52-week high, almost 45 per cent of book value (31st March 2019), a dividend yield of 20 per cent plus when interest rates are historic low with a chance of revival, amounts to questioning the wisdom of investors. Finally, is the