Fulford India is locked in upper circuit for fourth day in a row, up 10% at Rs 1,195 on the BSE, after its promoter Dashtag has made voluntary delisting offer at an indicative price of Rs 1,150.
The pharmaceutical stock has rallied 74% in past four trading sessions from Rs 686 on April 25, after the company made announcement after market hours.
Dashtag, the promoter, plans to acquire 25.05% or 0.98 million shares, representing of the paid-up equity share capital of Fulford India,” it says in a press statement.
The promoters held 74.95% in Fulford India as on March 31, 2014. The individual shareholders held 17.04% stake in the company followed by mutual funds (3.80%), while the remaining 4.21% stake are with the bodies corporate and others.
However, the indicative price is neither a ceiling nor a maximum price for the purpose of the reverse book building process under the delisting regulations.
The promoter said the public shareholders are free to tender their equity shares at any price higher floor price of Rs 701.71 per share.
The pharmaceutical stock has rallied 74% in past four trading sessions from Rs 686 on April 25, after the company made announcement after market hours.
Dashtag, the promoter, plans to acquire 25.05% or 0.98 million shares, representing of the paid-up equity share capital of Fulford India,” it says in a press statement.
The promoters held 74.95% in Fulford India as on March 31, 2014. The individual shareholders held 17.04% stake in the company followed by mutual funds (3.80%), while the remaining 4.21% stake are with the bodies corporate and others.
However, the indicative price is neither a ceiling nor a maximum price for the purpose of the reverse book building process under the delisting regulations.
The promoter said the public shareholders are free to tender their equity shares at any price higher floor price of Rs 701.71 per share.
