VEDL Vedanta Ltd (NYSE)

Could you add the following stock, please?

VEDL Vedanta Ltd (NYSE)

Thank you.

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VEDANTA has been delisted. I am unable to sell or buy.
Please help!

I think 212 will need to wait 30 days after the 8th of December to give you the cash proceeds of the sale for non converted stocks less CGT, but they’ll be able to confirm.

@B.E Are you able to shed some light on the IB/212 process. I made an assumption that no election was made on the C/A notification so that after 30 days lapse from the 8th December you should receive the cash less applicable CGT. It might be quicker if you elected cash as unable to convert to the local line.

The stock has indeed been delisted from NYSE.

Once, we have additional information on how we are going to proceed, we will let you know.

Any stock delisted will have very little liquidity or even none. As the delisted stocks will only have transactions between private investors outside the stock exchanges.

Delisting is always a risk for stocks, specially for micro/small caps and penny stocks/OTC stocks. Also large caps can be delisted if they are bought by private equity firms, or if there is merger & acquisition, or if they have a secondary listing and decide to delist from that secondary market, or even if the regulator or legislative/government decide to delist a company to due irregular matters.

Before delisting, there are news and public announcements stating that the stocks will be delisted on a pre-determinated date, and if someone want to sell before that, they will have time to sell their stocks before delisting.

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This is just my view, but IIRC the ADR needs sold off book, if not already to avoid any CGT liability if possible.

ADRs have tax advantages to holding the local Indian stock I believe as they are not subject to the 15% short term or 10% long term tax as in India(plus cess etc).