Latest News | Book Value of Vedanta's Equity Share at Rs 89.38

New Delhi, Sep 2 (PTI) Vedanta Resources on Wednesday said the book value of the equity share of its Indian flagship arm as per the delisting regulations is Rs 89.38 per share.

Book value is calculated as net worth of the company divided by total number of outstanding equity shares. The net worth also includes surplus and reserves.

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In May, Vedanta Resources announced its plans to voluntary delist the equity shares of its Indian subsidiary Vedanta Ltd.

"As an additional disclosure, we would like to inform that the book value of VEDL's (Vedanta Ltd) equity shares as per delisting regulations (Book Value), for the year ended March 31, 2020, is Rs 89.38 per share, as extracted from the audited consolidated financial statements of VEDL," Vedanta Resources said in a statement on Wednesday.

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The book value has been reviewed by the company's advisors, it said.

Book value signifies the intrinsic value of the company's shares as on a particular date. So the book value price sets an indicative floor price for reverse book building process.

Vedanta has already received shareholders' nod for delisting of the company.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)