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
Board of Revathi Equipment would meet on January 7 to consider the proposal
Trump administration says the companies are tied to Chinese military. But they don't need Wall Street as much as they once did
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
"The direction of the WTM to deposit a sum of Rs 1,292.46 crore is wholly arbitrary and has been passed without any application of mind," the tribunal said
Efforts on to augment power supply to Mumbai, says MD-CEO Anil Sardana
Officials said the assumption that Vedanta's delisting would have been successful at a price of Rs 140 was "completely misplaced
Listen to the podcast to know about Vedanta's failed delisting plan, what lies ahead for the company, and what should be the investors' strategy
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
Firm raises Rs 3,520 cr despite firm being cash surplus; It cannot use the proceeds directly for parent company
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