Business News›Markets›Stocks›News›Sebi may ask BSE to probe 120 million unconfirmed bid for Vedanta delisting
Sebi may ask BSE to probe 120 million unconfirmed bid for Vedanta delisting
Synopsis
However, in this case, the quantum of 120 million unconfirmed bids until the end of the delisting closing period has stumped market analysts, and the quantity was significant enough to create a distorted market for bids and had a material impact on the stock price movement.
Mumbai: Who’s to blame for the Vedanta delisting failure? The management of the resources company and its bankers seem to believe technical glitches on the exchange platform did them in. But Asia’s oldest bourse differs.The spat has drawn Sebi’s attention, which is likely to ask BSE to verify the source of 120 million unconfirmed bids and whether the bids were genuine or there was any foul play as alleged by some shareholders. That caused wild
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