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Home STOCKS Arranging financing for delisting, suggests Vedanta

Arranging financing for delisting, suggests Vedanta

Kolkata: Vedanta Means Restricted (VRL) has said it is in the method of arranging the financing for the delisting and it expects this to be concluded in the coming months.
In an official assertion VRL stated the board has “noted the approval by the shareholders of Vedanta Constrained of its delisting proposal and is grateful for their support.”
“VRL is in the system of arranging the financing for the delisting. We count on this to be concluded in the coming months, at which phase the Company will utilize to the stock exchanges for approval to continue with the delisting procedure,” the assertion reported.
VRL will make even more public announcements at the ideal time, the statement included.
Vedanta Ltd had previous thirty day period initiated the procedure for trying to find shareholders’ approval for delisting.
On Thursday Vedanta Ltd reported it has gained shareholders’ acceptance for delisting the corporation.
“The specific resolution (for voluntary delisting of the equity shares of the company from BSE Ltd (BSE) and Nationwide Inventory Exchange of India Confined (NSE))…has been accredited by the members with requisite majority,” Vedanta Ltd had explained in a filing to Bombay Inventory Trade. While 93.34% of the votes were in favour of the proposal, 6.65% ended up towards it, the notification explained. The proposal required approval of at minimum 66.7% of minority shareholders.

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