Delisting Of Shares

The board of directors are scheduled to meet on April 20, 2023 to consider the proposal for voluntary delisting of the equity shares of the company.

The stock had hit a multi-year high of Rs 462.10 on Wednesday, ahead of the board meeting, after it surged 58 per cent in four days

The promoters expressed their intention either individually or collectively, as the case may be, acquire all equity shares that are held by public shareholders.

DFM Foods has outperformed the market by surging 47 per cent in a week, as compared to 1.5 per cent gain in the S&P BSE Sensex.

As on date, the promoter-AI Global Investments, hold 73.7 per cent stake in the company

Company had approached Bombay High Court after stock market regulator's January order

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Under the Sebi norms, a company is required to make the final application to stock exchanges for delisting within one year of passing the special resolution

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Officials said the assumption that Vedanta's delisting would have been successful at a price of Rs 140 was "completely misplaced

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In the event, Vedanta RBB fails to get bids for at least 1.34 billion shares--- the minimum required for the promoters to acquire 90 per cent shareholding-the delisting bid would fail

The bid for Vedanta's delisting offer opened on Monday, October 5, while the bid closes on Friday, October 9, 2020

Vedanta's Hindustan Zinc, also Asia's most valuable zinc producer, reported a 23% drop in June-quarter profit on lower prices and production

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The promoter holding currently 50.14%. Under Sebi rules, promoters will have to acquire at least 39.86% stake (1.48 billion shares) from public to ensure successful delisting

The private equity major may have to spend as much as Rs 5,400 crore to buy out the entire 37.9 per cent stake from public shareholders

The bid process for the delisting offer - where the promoters were offering a floor price of Rs 264.97 per share - had started on September 9 and closed on September 16