DIC India has plunged 18% to Rs 445 on concerns about DIC Asia Pacific Pte Ltd, the promoter of the company may not acquire equity shares from the public shareholders higher than offer price.
The stock opened at Rs 495 and touched a low of Rs 435 on the BSE. A combined 195,000 shares changed hands on the counter till noon deals on BSE and NSE.
DIC Asia Pacific Pte Ltd, which held 71.75% stake in the company, has determined the indicative offer price of Rs 260 per share for the proposed delisting.
However, the stock is currently trading higher by 157% against its floor price of Rs 174 per share and 70% higher from its indicative offer price of Rs 260 per share.
Today, Ricoh Asia Pacific Pte, the promoter of Ricoh India has rejected price of Rs 225 where the total number of shares to be acquired for successful delisting offer were tendered.
Ricoh Asia Pacific Pte had proposed to acquire up to 10.49 million shares of Ricoh India from the public shareholders at an indicative price of up to Rs 120 per share.
Dashtag, the promoter of Fulford (India) also said it may consider other strategic alternatives in relation to its ownership of shares in the company, if the delisting offer was not successful.
Shares in Fulford (India) is currently trading at Rs 1,584, against its indicative price of Rs 1,150 fixed for delisting offer.
Dashtag said, the spurt in the share price of the Fulford (India) after the announcement of the proposed delisting of the company's shares was made in the public domain, is not, reflective of the business fundamentals of the company.
The stock opened at Rs 495 and touched a low of Rs 435 on the BSE. A combined 195,000 shares changed hands on the counter till noon deals on BSE and NSE.
DIC Asia Pacific Pte Ltd, which held 71.75% stake in the company, has determined the indicative offer price of Rs 260 per share for the proposed delisting.
However, the stock is currently trading higher by 157% against its floor price of Rs 174 per share and 70% higher from its indicative offer price of Rs 260 per share.
Today, Ricoh Asia Pacific Pte, the promoter of Ricoh India has rejected price of Rs 225 where the total number of shares to be acquired for successful delisting offer were tendered.
Ricoh Asia Pacific Pte had proposed to acquire up to 10.49 million shares of Ricoh India from the public shareholders at an indicative price of up to Rs 120 per share.
Dashtag, the promoter of Fulford (India) also said it may consider other strategic alternatives in relation to its ownership of shares in the company, if the delisting offer was not successful.
Shares in Fulford (India) is currently trading at Rs 1,584, against its indicative price of Rs 1,150 fixed for delisting offer.
Dashtag said, the spurt in the share price of the Fulford (India) after the announcement of the proposed delisting of the company's shares was made in the public domain, is not, reflective of the business fundamentals of the company.
