Vedanta Ltd fails to get enough shares to delist from stock exchanges

Entry into capital market easier than exit due to regulatory process, say corporate compliance firms

Anil Agarwal-led Vedanta Resources on Saturday said it had failed to receive the required number of shares to delist Vedanta Limited. Accordingly, equity shares of Vedanta Limited and those tendered by shareholders in the delisting offer would continue to remain listed on the exchanges, said the company in an exchange filing.
 
Promoters of the diversified metal and mining company required 1.34 billion shares to successfully delist from exchanges. However, their five-day reverse book building (RBB) process, which ended on October 9 evening, saw only 1.26 billion confirmed bids.
 
“The withdrawal from the delisting process for any company acts