The August 2013 merger of Sesa Goa into Sterlite Industries Ltd (Sterlite) created a combined balance sheet that had better credit metrics. Get all latest & breaking news on Sterlite Industries. in the past also they had sent cheque w/o notice of delisting Sterlite industries, institutions should vehemently oppose offer price. It was founded by Shri. Vedanta Resources Limited is a globally diversified natural resources company. Each ADS represents one of our equity shares, par value Rs. Mr. Agarwal occupies the position of President for Jindal Aluminium Ltd. and Chairman of Sterlite Gold Ltd. Vedanta Resources itself is a holding company that owns many entities including a large proportion of Vedanta Limited and Sterlite industries. The merger of Sterlite with Sesa Goa to form Sesa-Sterlite (subsequently renamed Vedanta Limited) in 2012, the merger of Cairn India with Vedanta Limited in 2016, and the delisting of Vedanta Resources Pie (subsequently renamed Vedanta Resources Ltd) in 2018 were the earlier ones. The 2016 merger of Cairn India with Vedanta Ltd once again allowed Vedanta’s debt-heavy balance sheet to leverage on Cairn’s cash-heavy balance sheet. The Anil Agarwal promoted Sterlite Industries has been keen on delisting its shares from the stock bourses. India’s Sterlite Industries has agreed to buy the operating assets of US copper mining company Asarco for $2.6bn in a deal that will make it the world’s third biggest copper producer. Vedanta Resources Ltd (VRL), which owns 50.1 per cent of Vedanta Ltd, has offered to acquire all of the balance 49.9 per cent shareholding held … Sterlite Industries 50 SEBI brought a petition before the Bombay High Court in which they claimed that a buyback of its shares by the company at market price can only be done under section 77 of the Companies Act, 1956 and not under section 100-104 which cover reduction of capital. Shareholders can withdraw the shares they tendered during the reverse book building within 10 working days of the counteroffer. Sebi had filed its affidavit last week contesting that shareholders of Sterlite Industries ought to be allowed to exit as per the regulator's delisting guidelines. Mumbai, Dec. 30 : Mumbai, Dec. 30: The queue for delisting shares from the local bourses is suddenly getting longer, with Indian companies joining the bandwagon that till recently comprised only local subsidiaries of foreign multi-nationals. This is not the first time that the company has faced flak from the market regulators' office. The 2016 merger of Cairn India with Vedanta Limited once again allowed Vedanta’s debt-heavy balance sheet to leverage on Cairn’s cash-heavy balance sheet. Watch videos, top stories and articles on Sterlite Industries at moneycontrol.com. Sterlite has since challenged the Attorney General's views in the Delhi High Court. The merger of Sterlite with Sesa to form Sesa-Sterlite in 2012 and the merger of Cairn India with Vedanta in 2016 was a part of this process. Agarwal struck gold when he ventured into mining a few years later and acquired majority stakes in state-owned Bharat Aluminium Company and Hindustan Zinc Limited. Sterlite Industries (India) Limited is offering American depositary shares, or ADSs. Anil Kumar Agarwal is an Indian entrepreneur and businessperson who founded Vedanta Ltd., Vedanta Resources Ltd. and Vedanta Foundation and who has been at the head of 9 different companies. 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