Vedanta has received in-principle approval from stock exchanges -- BSE and National Stock Exchange of India (NSE) -- for its delisting from the bourses. Post approval, the company's parent Vedanta Resources (VRL) and its subsidiaries issued a public announcement with regard to the delisting offer. In June this year, Vedanta had received shareholders' nod for delisting the company. The firm, through a postal ballot, had sought shareholders' nod to delist after VRL offered to buy out about 49.9 per cent of public shareholding at a price of Rs 87.5 per share.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc leadsilver, copper, iron ore, aluminium and commercial power.
