Delisting

Jaypee Infratech's shares on the BSE are currently suspended. The company, as of May 24, is under the management of Suraksha Group, following NCLAT approval

Lawyers representing BSV Claims, a vehicle set up to pursue the case, say the exchanges engaged in anti-competitive behaviour to delist BSV in 2019

Amid Quantum Mutual Fund voting against the proposed delisting of ICICI Securities, the largest public shareholder Norges Fund Investment Bank has voted in favour of the proposal of the stock broking arm of ICICI Bank. The foreign fund, which holds nearly 3.25 per cent stake in ICICI Securities, voted in favour on Thursday, the first day of e-voting, as per the information posted on the website of Norges Fund Investment Bank. The e-voting will remain open till March 26. The move of the Norway-based Norges Bank provided a shot in the arm of ICICI Securities' plan to delist itself as it needs two-thirds of the public shareholders' support to pass the resolution. However, Quantum Mutual Fund, which holds a 0.09 per cent stake in ICICI Securities, voted against the resolution on Thursday. Quantum Mutual Fund opposed the delisting as it did not find the swap share ratio lucrative to the shareholders of ICICI Securities. As per the scheme of arrangement, shareholders of ICICI Securitie

Move will see ISec become wholly-owned subsidiary of ICICI Bank

Shreyas Shipping on Wednesday resumed its delisting offer at a counter offer price of Rs 400 per share and the offer will close on October 17. This is the second attempt at delisting after the company's shareholders had tendered shares at a price of Rs 890 per share as against the revised offer of Rs 375 apiece. The revised price was higher compared to the original price of Rs 338 per share announced early last month. Subsequently, the tendering was cancelled and the company decided to make a counter offer. As part of the delisting process, the counter offer bidding period for public shareholders of Shreyas Shipping at Rs 400 per share will start from October 11 and close on October 17, the parent company Transworld Holdings said in a note. The share price of the company was Rs 262 per share on May 19 (pre-delisting announcement) and the counter offer price is at a 52.7 per cent premium to the pre-announcement price. On a 60-day weighted average price, the floor price was Rs 292 a

With an aim to protect investors' interest, Sebi has notified a new framework prohibiting listed entities, with more than 200 non-QIB (qualified institutional buyer) holders of non-convertible debt securities, from delisting voluntarily. Under the new rule, the listed entity will have to obtain permission from all holders of non-convertible debt securities within 15 working days of receiving the notification of delisting. The present rule allows entities to delist by giving a prior intimation to the stock exchange about the meeting of the board of directors, where the proposal for a voluntary delisting is considered. Unlike equity, wherein approval by a threshold majority is sufficient for approval of delisting, in the new framework, approval of 100 per cent of the debt security holders has been mandated for delisting of debt securities. This is because, unlike equity which is a perpetual instrument, listed debt securities have a finite term to maturity. In its notification issued

In addition, SEBI suggested a framework for companies that have shares held by investment-holding companies

Anxiety about governance not in anyone's interest, says Sebi chair in annual report address

Public shareholders of the broking firm to get 67 shares of ICICI Bank for each 100 shares of ICICI Securities

The US investment fund failed to draw enough interest from public shareholders

Maker of Tata Tea announces net profit of Rs 352 crore

Tata Motors joins growing list of domestic firms to delist ADR programme

Tata Motors on Monday said the voluntary delisting of its American Depositary Shares, representing ordinary shares, from the New York Stock Exchange will become effective close of trading on January 23, 2023. After Monday, there will be no over-the-counter market trading of the American Depositary Shares (ADSs) in the US due to regulatory restrictions under the Indian law, Tata Motors said in a regulatory filing. The ADS holders can surrender their ADSs to the Depositary in exchange for the underlying ordinary shares of the company at any time on or prior to July 24, 2023, it added. Starting on or about July 25, 2023, the Depositary may sell the then remaining ordinary shares held on deposit upon the terms described in the notice of termination of ADS facility as provided for in the deposit agreement, it said. "The above action has no impact on the current listing status or trading of the company's equity shares on the BSE Limited and the National Stock Exchange of India Limited in

The stock had hit a multi-year high of Rs 462.10 on Wednesday, ahead of the board meeting, after it surged 58 per cent in four days

Tata Motors's stock remains listed on the BSE and the National Stock Exchange of India

Chinese e-commerce firm Alibaba said on Monday that it wants to keep its shares listed in both New York and Hong Kong, days after US regulators included it in a list of companies that may be delisted

In a fresh crack down on Chinese companies, the US Securities and Exchange Commission (SEC) has added over 80 firms to its list that is likely to delist them from American exchanges, including China's JD.com, China Petroleum & Chemical Corp, JinkoSolar, Pinduoduo, Bilibili, electric maker NIO Inc and NetEase.

Companies such as quick service restaurant operator Yum China Holdings could be examples of those that the provision would apply to

Sebi has amended rules pertaining to delisting of equity shares of a company following an open offer as part of efforts to make merger and acquisition transactions for listed companies more convenient

Didi, whose apps, in addition to ride-hailing, offer products such as delivery and financial services, remains under investigation