Fulford (India) is locked in upper circuit for a second consecutive day up 20% at Rs 988 on the BSE after its promoter Dashtag propose a voluntary delisting of the company’s equity shares from the Indian sock exchange.
The company said it has received a letter from Dashtag, the promoter of the company, expressing his intention to make a voluntary delisting offer to the public shareholders of the company at an indicative price of Rs 1,150.
Dashtag, the promoter, plans to acquire 0.98 million shares, representing 25.05% of the paid-up equity share capital of Fulford India. The promoters held 74.95% stake in the pharmaceutical company as on March 31, 2014.
The board of directors of the company at their meeting held on April 26 has approved the delisting offer and intends to seek the approval of the shareholders through a postal ballot in terms of the delisting regulations.
If the delisting offer is successful the equity shares of Fulford India will be delisted from the BSE in accordance with the delisting regulations, it further said.
At 0930 hours, around 602 shares changed hands and there are pending buy orders for 630,676 shares on the BSE.
The company said it has received a letter from Dashtag, the promoter of the company, expressing his intention to make a voluntary delisting offer to the public shareholders of the company at an indicative price of Rs 1,150.
Dashtag, the promoter, plans to acquire 0.98 million shares, representing 25.05% of the paid-up equity share capital of Fulford India. The promoters held 74.95% stake in the pharmaceutical company as on March 31, 2014.
The board of directors of the company at their meeting held on April 26 has approved the delisting offer and intends to seek the approval of the shareholders through a postal ballot in terms of the delisting regulations.
If the delisting offer is successful the equity shares of Fulford India will be delisted from the BSE in accordance with the delisting regulations, it further said.
At 0930 hours, around 602 shares changed hands and there are pending buy orders for 630,676 shares on the BSE.
