Vedanta Approves First Interim Dividend for FY21 Days After Failed Delisting Offer

The interim dividend will be paid within stipulated timelines as prescribed under law, it added. Shareholders were waiting for the dividend announcement from Vedanta after the company’s delisting process failed this month.

Vedanta Ltd’s delisting went from almost-a-success to failure on account of a large quantity of unconfirmed orders. In a regulatory filing, Vedanta had said its buyback offer is deemed to have failed as per the terms of the delisting regulations after promoter Vedanta Resources did not receive the required number of shares to delist the firm.

A large number of unconfirmed bids and some technical glitches in the tender process are likely to have contributed to the failure.