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Gillette India tanks on denial of delisting, open offer plans

The stock has dipped nearly 6% to Rs 2,070, declining over 10% from early morning high on the BSE.

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SI Reporter Mumbai
Gillette India has dipped nearly 6% to Rs 2,070, declining over 10% from early morning high, after the multinational personal products maker said the company has no plans for an open offer or delisting.

The company has made a clarification on the news item appearing in a leading financial daily titled "Delisting Buzz Fuels Gillette Stock Surge."

The said news regarding possibility of an open offer by the company or delisting of the company is untrue, Gillette India said in a statement.

In fact, the company has recently successfully completed a sell-down of shares to deliver compliance with SEBI's minimum public shareholding requirement, it added.

The stock opened at Rs 2,212 and touched a high of Rs 2,314 on the BSE. A combined around 120,000 shares changed hands on the counter till 1450 hours on the BSE and NSE.
 

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First Published: Jan 08 2014 | 2:58 PM IST

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