The five eligible companies are KIOCL, HMT, ITI, State Trading Corporation and Fertilisers & Chemicals Travancore.
Some of the PSUs like Madras Fertilizers, New India Assurance, Mangalore Refinery, MMTC, ITI, HMT, UCO Bank, Central Bank of India, and IDBI Bank among others had a promoter holding well over 85 percent as on March 31, 2025.
The Sebi board, scheduled to meet on June 18, is expected to take a final call on a separate voluntary delisting framework for PSUs that have a very high promoter holding – 90 percent or more to be precise.
The directive, issued on September 19, was in response to a petition filed by Bengaluru-based portfolio manager Manu Rishi Gupta, who had raised objections to the delisting of ICICI Securities.
The court ruled that the market regulator must provide this letter to Aruna Vinod Modi, an ICICI Securities shareholder who challenged the exemption. However, Aruna Modi is prohibited from sharing, reproducing, or allowing third-party inspection of the letter.
Minority shareholders will be disappointed with SEBI’s move to dilute the current voluntary delisting norms
NCLT has deferred the case to July for further deliberation and the matter remains poised for intense scrutiny and debate
Shares of ICICI Securities fell over 2 percent on March 28 as shareholders a day earlier approved the proposal to delist ICICI Securities, following which it will become a wholly-owned subsidiary of ICICI Bank
Transworld Holdings has rejected the discovered price — Rs 890 — through the reverse book building process and made a counteroffer at a much lower price of Rs 400 a share.
Under the new rule, the listed entity will have to obtain permission from all holders of non-convertible debt securities within 15 working days of receiving the notification of delisting.
A SEBI committee report has proposed some crucial changes such as in the bidding process, allowing competitive bids, and bids for illiquid stocks and holding companies
According to the regulator, there are operators who may be abusing the process
Separately, SEBI is also planning to release a consultation paper on trading plan by August-end, said Buch, the chairperson of the regulatory body.
In this episode of Market Minutes, Shailaja Mohapatra talks about the trade setup for India ahead of a mid-week holiday and HDFC's tentative delisting date. Also, catch Arun Chulani of First Water Capital in Voice of the Day segment. Market Minutes is a morning podcast that puts the spotlight on hot stocks, keys data points and developing trends. (With inputs from news agencies)
TTK Healthcare's delisting is aimed at streamlining its business strategy by expanding into new categories and businesses with each having their distinct risk profiles and funding requirements.
Congress on Friday passed legislation to speed up the timeline for kicking companies off the New York Stock Exchange and Nasdaq if Washington regulators can’t fully review their audit work papers.
The discovered price came in at Rs 525 a share. Advent Intl has now made a counteroffer of Rs 467 a share
In a regulatory filing, Advent expressed AI Global's intention to "acquire all the equity shares that are held by public shareholders, either individually or collectively, as the case may be."
U.S. regulators have been demanding complete access to audit working papers of New York-listed Chinese companies, which are stored in China.
It added that it will continue to explore appropriate measures that include exploring a potential listing on another internationally recognized exchange, it said.
Sebi has amended rules pertaining to the delisting of equity shares of a company following an open offer as part of efforts to make merger and acquisition transactions for listed companies more convenient.
New rules give the benefit of dual pricing for shareholders. If the delisting is successful all tendering shareholders will get the higher delisting price while in the case of it being unsuccessful, shareholders will get the open offer price which is guided by SEBI formula..
We would not be surprised, if, in future, the suspension PVC business of Chemplast Sanmar is once again demerged to unlock value for the standalone business
Recent changes are peripheral. They don’t address the issue of pricing – the key reason why delisting attempts are failing.
Those investors who are holding on to their shares have little to worry about. While there is the hope that the promoter may improve the price next time around, the sector in which Vedanta operates is also doing well