Indian bourses provide adequate liquidity: Vedanta

Anil Agarwal had announced Vedanta's decision to delist its ADS and concentrate all trading of shares on Indian bourses

Vedanta, on Friday said that they decided to delist American depositary shares (ADS) from NYSE.

 

Anil Agarwal had announced Vedanta's decision to delist its ADS and concentrate all trading of shares on Indian bourses that is BSE and NSE.

 

The company said, "The Vedanta share is extremely liquid on Indian bourses with high daily volumes and provides both efficient price discovery and ample buy-sell opportunity to the investors, including the global ones."

 

They came this decision after considering the depth of Indian stock exchanges which has gone up significantly.

 

The board has approved the delisting that will involve deregistering such ADS and underlying equity shares. Termination was also approved, reporting obligations pursuant to the US Securities Exchange Act of 1934, as amended (the Exchange Act) upon, satisfying the relevant criteria.

 

The whole process is expected to become effective in ten days after which the shares will no longer be listed for trading on the NYSE.

 

India Scanner News Network

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