Electrolux exit to remain open for 1yr

Electrolux Kelivantor, which has got in-principle approval for delisting its shares from stock exchanges, has decided to keep open the exit option for a period of one year from the date of delisting of shares from the bourses.

The company had given an exit option to existing shareholders by buying back shares at Rs 10 after the promoters' stake crossed 91% of the total paid-up share capital last year.

The company has informed the stock exchanges that besides keeping open
the exit option for one year, it will make payment to the shareholders within 30 days from the date of receipt of valid share certificates or instruction advice in respect of the shares kept under demat mode.

"It will continue to resolve investors' complaints, if any, pending and received thereafter for a period of one year after the date of delisting of shares from all the exchanges," the company said in a release today.