Goa Congress urges Sebi to withhold listing of Vedanta Iron and Steel Ltd

PANAJI: (Jun 14) The Congress’ Goa unit on Sunday urged capital market regulator Sebi to withhold the listing of Vedanta Iron and Steel Limited (VISL), alleging that its parent company Vedanta Ltd failed to disclose its Rs 16,500-crore liability linked to mining operations in Goa.

Vedanta group’s four demerged businesses are expected to list on the BSE and NSE on Monday. Besides Vedanta Ltd, which is already listed, the shares of four newly created entities –Vedanta Aluminium Metal (VAML), Vedanta Oil & Gas (VOGL), Vedanta Power and Vedanta Iron & Steel (VISL) — will begin trading on Indian stock exchanges.

In a letter addressed to the Sebi Chairperson, Goa Pradesh Congress Committee (GPCC) president Girish Chodankar on Sunday urged the Securities and Exchange Board of India (Sebi) to withhold the listing permission granted to VISL.