ISSN

2321-5763 (Online)
0976-495X (Print)


Author(s): P. Kalyani, T. Suchitra Rani

Email(s): pola.kalyani@gmail.com , thisissuchitra@gmail.com

DOI: 10.52711/2321-5763.2022.00018   

Address: P. Kalyani1*, T. Suchitra Rani2
1Assistant Professor, Amity Global Business School, Hyderabad
2Associate Professor, Amity Global Business School, Hyderabad
*Corresponding Author

Published In:   Volume - 13,      Issue - 1,     Year - 2022


ABSTRACT:
Unlike the concept of IPO, contra IPO or going private by delisting process is not so familiar among many. By buying back the publicly traded shares and acquiring majority of stake, the promoters of a company try to delist themselves from the stock markets. In March 2020, the UK based mining giant Vedanta Resources Plc. has come up with the delisting proposal of its Indian subsidiary Vedanta limited. However, the delisting was not successful. Analysts have identified that low offer price and unconfirmed bids were the primary reasons for the failure of Vedanta Limited’s delisting. The objective of the current case study is to throw light on the delisting and reverse book building process through the case of Vedanta’s delisting failure. It narrates the entire saga of Vedanta Limited’s delisting right from the announcement to the reverse book building process. The case also helps in understanding the reasons behind such delisting failures.


Cite this article:
P. Kalyani, T. Suchitra Rani. The Delisting of Vedanta – What Went Wrong?. Asian Journal of Management. 2022;13(1):101-4. doi: 10.52711/2321-5763.2022.00018

Cite(Electronic):
P. Kalyani, T. Suchitra Rani. The Delisting of Vedanta – What Went Wrong?. Asian Journal of Management. 2022;13(1):101-4. doi: 10.52711/2321-5763.2022.00018   Available on: https://ajmjournal.com/AbstractView.aspx?PID=2022-13-1-18


REFERENCES:

1.        Gupta A. Regulatory Framework of Initial Public Offer in India. Research Journal of Humanities and Social Sciences. 2019; 10(4). doi.org/10.5958/2321-5828.2019.00188.8

2.        Sahoo B P. Kaur K. The Movement of IPOS in Indian Stock Market and IPO Grading. Asian Journal of Management; 2017; 8(4):1057-1063. doi.org/10.5959/2321-5763.2017.00162.7

3.        Patel A. Suresha B. Impact of Corporate Governance on IPO Underpricing - An Evidence from Indian Stock Market. Asian Journal of Management. 2019; 10(2):95-99. doi.org/10.5958/2321-5763.2019.00016.7

4.        Khurana R. Warne D P. Stock Price Adjustments to Selected Corporate Announcements: A Study of Dividend Announcements. Asian Journal of Management. 2018; 9(1):649-659. doi.org/10.5958/2321-5763.2018.00102.6

5.        Rashmi R. Suresh N. Sheetal R. Lokande. Impact of Mergers and Acquisitions on the stock price behavior of Merger and Acquirer Companies in Oil and Gas Industry. Asian Journal of Management. 2021; 12(1):15-22. doi.org/10.5958/2321-5763.2021.00003.2

6.        Mangala D. Verma A. Financial Risk Tolerance of Individual Equity Investors in Indian Stock Market. Asian Journal of Management. 2018; 9(2):990-998. doi.org/10.5958/2321-5763.2018.00156.7

7.        Tanty G. Assessing the Bombay Stock Exchange Index Volatility through Garch Model. Asian Journal of Management. 2019; 10(3): 236-240. doi.org/10.5958/2321-5763.2019.00037.4

8.        Ramya K. Bhuvaneshwari D. Understanding the Risk Tolerance Level and Trading Behaviour of Individual Investors with Special Reference to Demographic Profile of Investors. Asian Journal of Management; 2017; 8(3):901-911. doi.org/10.5958/2321-5763.2017.00139.1

9.        Bairagi P. Chakraborty A. Influence of Risk -Perception on Retail Investors’ Decision Making. Asian Journal of Management. 2018; 9(2):999-1004. doi.org/10.5958/2321-5763.2018.00157.9

10.      Sashikala V. Chitramani P. The Impact of Behavioural Factors on Investment Intention of Equity Investors. Asian Journal of Management. 2018; 9(1):183-188. 10.5958/2321-5763.2018.00028.8

11.      Vedanta Annual report. Retrieved from https://iar.vedantalimited.com/InteractiveAnnualReport_FY20/static/Integrated-Annual-Report2019-20-d8d8512ff591a8c893c84c2b6581247d.pdf

12.      Bhutoria, P  From Public to private – Delisting 101. Retrieved from https://blog.smallcase.com/public-to-private-delisting-101/ July 23rd, 2020.

13.      Agarwal R. “Vedanta Limited Delisting Failure”. Retrieved from http://www.businessworld.in/article/Vedanta-Limited-Delisting-Failure/26-10-2020-335603/ , October 26th 2020.

14.      SES. Vedanta Delisting offer – A litmus test for board of Vedanta Limited. Retrieved from https://www.sesgovernance.com/pdf/home-reports/1589428758_Vedanta-Delisting_Litmus-Test-for-the-Board-(1).pdf

15.      Fatakia H. Vedanta delisting offers fails. Retrieved from https://www.bloombergquint.com/markets/vedanta-delisting-offer-fails, October 11th 2020.

Recomonded Articles:

Author(s): P. Kalyani, T. Suchitra Rani

DOI: 10.52711/2321-5763.2022.00018         Access: Closed Access Read More

Asian Journal of Management (AJM) is an international, peer-reviewed journal, devoted to managerial sciences. The aim of AJM is to publish the relevant to applied management theory and practice...... Read more >>>

RNI: Not Available                     
DOI: 10.5958/2321-5763 



Recent Articles




Tags