Riddhi Siddhi Gluco Biols zooms 20% on delisting plan

The stock locked in upper circuit of 20% at Rs 581, also its new high on the BSE

Riddhi Siddhi Gluco Biols was locked in upper circuit of 20% at Rs 581, also its new high on the BSE, after the company announced that the board will meet on Tuesday, 12th December, 2017 to consider the delisting proposal.

The company has received the proposal from the promoter(s)/promoter(s) group as regards delisting of equity shares of the company from BSE, Riddhi Siddhi Gluco Biols said in a filing.

As of September 30, 2017, the promoters held 74.82% stake in commodity chemicals Company.  Of the remaining 25.18% stake, the public shareholders held 10.08% holding, followed by Stuti Trademart Private (7.69%), Siwana Agri Marketing (3.5%) and bodies corporate (2.56%), the shareholding pattern data shows.

Till 11:53 AM; around 6,143 shares changed hands and there were pending buy orders for 15,867 shares on the BSE.

The stock is trading under ‘X’ category. The BSE had merged the groups XC and XD into new group X with effect from December 1, 2017. Three sub segments -- XC, XD and XT -- were launched in November 2015 considering companies specific characteristics such as low to moderate market capitalisation, lower contribution to overall trading turnover.