 "Fulford (India) tanks 20% as promoter shelves delisting plans")
Shares of Fulford (India) is locked in lower circuit of 20% at Rs 1,417 on BSE after Dashtag, its promoter, has dropped plans to de-list the company due to abnormal upward spurt in the share price of the company.
“In view of the current share price of the Fulford (India) being substantially higher than the indicative price of Rs 1,150 per share for the delisting, the Dashtag has decided not to make the public announcement of the delisting offer at this time,” Dashtag, the promoter of the company, said in a letter dated December 1.
Dashtag, which holds 74.95% stake in Fulford India, had earlier announced a delisting price of Rs 1,150.
At 1040 hours, around 1,000 shares changed hands and there are pending sell orders for 3,851 shares on BSE.
“In view of the current share price of the Fulford (India) being substantially higher than the indicative price of Rs 1,150 per share for the delisting, the Dashtag has decided not to make the public announcement of the delisting offer at this time,” Dashtag, the promoter of the company, said in a letter dated December 1.
Dashtag, which holds 74.95% stake in Fulford India, had earlier announced a delisting price of Rs 1,150.
At 1040 hours, around 1,000 shares changed hands and there are pending sell orders for 3,851 shares on BSE.