Vedanta Delisting With Anil Singhvi: The company is about to finish the process and 55 per cent of the net shares have been tendered till date. Zee Business Managing Editor Anil Singhvi has said that by the end of Friday — last date to tender Vedanta shares — net shares tendered is expected to reach up to 90 per cent as big institutions like LIC, ICICI Prudential, HDFC Equity Fund, Citi Bank, etc. are yet to tender their shareholding. The Market Guru said that institutions will tender their shares from 12:00 noon tomorrow and by the end of 3:30 PM net tendered shares would shoot up sharply as institutions hold bulk of shares and their surrender will reflect in the volumes at a faster rate.

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Speaking on the factors that hold key for the success of Vedanta delisting, Anil Singhvi said, "Three things are very important for the success of Vedanta delisting — institutions, price of delisting and counter offer by the promoters. As far as Vedanta shares tender volume is concerned, it will go up when the institutions start tendering and they do it on the last day means tomorrow."

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On how institutions hold key to Vedanta delisting success, Singhvi said, "Big institutions like LIC, ICICI Prudential, HDFC Equity, Citi Bank, etc. hold bulk of Vedanta shares and once they start tendering them, it will start reflecting in the net tender volume at very fast rate. For example, LIC holds 6.37 per cent of Vedanta shares, ICICI Prudential holds 4.81 per cent, HDFC Equity Fund has 3 per cent Vedanta shareholding while Citi Bank has 4.37 per cent. Similarly, there are other intuitions, that also hold Vedanta shares in bulk. So, once they start tendering their shares, which they will, then the net tender volume of the Vedanta delisting will shoot up to around 90 per cent by the end of tomorrow markets."

On price and counter offer by the Vedanta promoters, the Market Guru said, "Once the tender of Vedanta shares is complete, it becomes important to know at what price the delisting takes place. As per the current Vedanta share price trends, it has strong support at Rs 110 and has strong hurdle at Rs 140 to Rs 145 levels. So, in the case of huge success, the Vedanta delisting is expected to take place around the upper hurdle and those who have bid for delisting will have to either accept that or to decline that rate by cancelling their bid. Remember, those who don't cancel, their bid will be considered accepted at the delisting price even when their bid is much above it."

The Zee Business Managing Editor went on to add that once the delisting is complete, promoters' role will come into play as they may tend to give counter offer in case they are not satisfied with the delisting. So, in that case they might give a counter offer at higher price than the Vedanta delisting price.