Billionaire Anil Agarwal-backed Vedanta has failed to complete its delisting process, data available on the BSE shows.

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Promoters of the metal major required 134.1 crore shares to successfully delist from the exchanges. However, their five-day reverse book building (RBB) process, which ended on October 9 evening, saw only 125.47 crore confirmed bids. As per the demand schedule released by the BSE, about 12.32 crore shares tendered are yet to be confirmed.

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Data showed public shareholders tendered 137.1 crore of the total 169.73 crore shares held by them but some bids were pending confirmation from bankers and custodians.

According to a report in Moneylife, bankers to Vedanta Resources, DAM Capital, and JP Morgan, have requested SEBI for a one-day extension, saying glitches in the BSE tendering webpage upset public participation.

Moneycontrol could not independently verify the report.

Also read: Vedanta Delisting FAQs: Is it necessary to participate, what happens in case of failure?

The share tendering process was tepid till October 8 but it gained momentum on the final day and Vedanta looked on course to a successful delisting.

Life insurance Corporation (LIC), which holds a 6.37 percent stake in the company, tendered all its shares at Rs 320 which is a 267 percent premium over the floor price of Rs 87.25. Two other big mutual funds have tendered their shares at Rs 153 and Rs 160 per share.

(Edited by : Jomy)