Vedanta Delisting: In talk with Anil Singhvi, Chairman Anil Agarwal lauds SEBI, sends this big message to investors

Vedanta delisting through reverse book building process is going to end today at 3:30 PM. According to Vedanta Chairman Anil Agarwal, the company has met the 90 per cent tender eligibility norms and that he was very happy with the transparent SEBI norms. In talks with Zee Business Managing Editor Anil Singhvi, Vedanta Chairman said that the delisting process is quite transparent and SEBI's norms are acclaimed globally. Agarwal also said that in case they fail to get the proper result during the delisting, SEBI has made provision for them to give a counter offer, which may satisfy LIC and other institutions that hold bulk shares of Vedanta.

On meeting the eligibility criteria for delisting, Vedanta Chairman said that the company has crossed the 90 per cent tender criteria to become eligible for delisting and hence, the market should now focus on that.

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On price being so low compared to the screen price, Anil Agarwal told Anil Singhvi, "The price has been fixed on the basis of the SEBI norms and company has just followed the market regulator's norms. Those, who don't want to tender their shares at this price, SEBI has provision for them also. They can wait and exercise those provisions." He said that if the company fails to get the amount it wants from delisting, then SEBI has given them option of making a 'counter offer' that makes a level playing field for both bidders and the company.

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#LIVE | निवेशकों के लिए क्या है वेदांता का प्लान? देखिए वेदांता के चेयरमैन अनिल अग्रवाल से डीलिस्टिंग पर खास चर्चा #Vedanta @AnilSinghvi_ https://t.co/hWYBw2cddJ

— Zee Business (@ZeeBusiness) October 9, 2020

On LIC bidding at Rs 320 per Vedanta share, which is almost four times of the delisting price offered by the company, Anil Agarwal said, "We respect the LIC calculation and like any other bidders, they can also exercise other options being given by SEBI."

WATCH| Zee Business tweet below:

#ZBizExclusive | देखिए वेदांता की डीलिस्टिंग पर DAM कैपिटल के धर्मेश मेहता के साथ खास बातचीत

यहां देखें इंटरव्यू यहां: https://t.co/jhhH2EYmlK#Vedanta #Delisting @AnilSinghvi_ @AnilAgarwal_Ved @VedantaLimited @dharmeshamehta pic.twitter.com/hEolEOViPm

— Zee Business (@ZeeBusiness) October 9, 2020

On why there was need to go for delisting, Vedanta Chairman Anil Agarwal said, "Our leakage in debt repayment was going up and there was no other option left but to go for delisting."