Delisting would have fetched $3 billion FDI into India: Vendanta
For successful delisting of the shares, 134.12 crore shares needed to have been validly tendered for the promoter shareholding to cross the 90 per cent shareholding.
Mining conglomerate Vedanta Ltd on Thursday said it would be holding a board meeting on October 24 to consider and approve the first interim dividend for the current financial year.
“The Board of Directors of the company on Saturday, October 24, 2020, will consider and approve the first interim dividend on equity shares, if any, for the financial year 2020-21,” Vedanta Ltd said in a regulatory filing.
The company has fixed record date as October 23 to determine the entitlement of the shareholders.
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“Please note that the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Saturday, October 31, 2020,” the regulatory filing added.
Post the announcement, company’s stock jumped for the fourth straight day and is currently trading with a gain at Rs 105.90, up by Rs 4.65 or 4.59 per cent on the BOM.
On the NSE, it was trading at Rs 105.75, or Rs 4.55 or 4.50 per cent.
On October 10, Vedanta Ltd announced that its voluntary delisting offer, to acquire the balance shareholding in Mumbai-listed Vedanta Ltd and then delisting it from the stock exchange, had failed at the reverse book building stage.
The total number of shares tendered by Vedanta Ltd’s public shareholders fell 7 per cent short of the mandatory minimum of 90 per cent for successful delisting.
Earlier this week, Vedanta Group firm Hindustan Zinc Ltd (HZL) had declared its highest interim dividend in 12 years at Rs 21.3 per share. The record date for paying the dividend is October 28. Hindustan Zinc had paid a higher dividend of Rs 30 per share in July 2008.
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