Vedanta share price locked at upper circuit as board mulls delisting proposal

Vedanta share price was locked at 10 percent upper circuit on May 13 after the company said it is going to consider delisting proposal on May 18.

The company board meeting is scheduled to be held on May 18 to approve/ reject the delisting proposal after taking into account various factors and the Merchant Banker’s due diligence report, the company said.

Billionaire metals and mining magnate Anil Agarwal on May 11 announced a proposal to delist Vedanta from the Indian stock exchanges with promoter group Vedanta Resources making an offer to buy out the 48.94 percent non-promoter shares at Rs 87.5 per share.

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