Ahmedabad-based Vadilal Enterprises Ltd has decided to delist its shares from the Ahmedabad Stock Exchange (ASE) subject to the approval from the exchange.
The board of directors of the company at its meeting held on May 30, 2012, approved the delist plan of the company. "We will delist both of our companies, VEL and Vadilal Industries Ltd (VIL) from the ASE as there was hardly any trading on the exchange over the past two years. This will not cause inconvenience to investors as both the companies continue to be listed on the Bombay Stock Exchange (BSE)," said Rajesh Gandhi, MD, VEL.
"The board has approved to voluntarily delist total 862668 equity shares of Rs 10 each of the company, from ASE, subject to compliance of procedure mentioned in Clause 7 of the SEBI (Delisting of Equity Shares) Regulations, 2009," company informed BSE on Wednesday.
