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Language | Updated: 28 Jun 2020, 09:35:00 PM IST
New Delhi, June 28 (Vedanta) Vedanta Resources Ltd said that it is working to raise money to eliminate listing of the Indian entity from the stock exchanges. The company said that it hopes to complete the process next week. Vedanta Resources said in a statement that it is raising money for Vedanta Ltd's approval after the approval of shareholders to end its listing. He said, “We hope to complete it next week. An application will then be made to the stock market to begin the process of winding up the company's listing. “Vedanta Resources offered Rs 87.50 per share for the repurchase of all public shares of Vedanta Limited. On Friday, the stock of Vedanta Ltd. closed at Rs 109.95 on the BSE. The Board of Directors of Vedanta Limited approved the proposal to terminate the listing on 18 May. It received shareholders' approval last week. After the completion of listing, the promoters' stake in Vedanta Limited will be up to 90 percent.