Nirma fixes offer price for public shares at Rs 260 apiece
Nirma fixed the offer price for acquisition of shares held by the public at Rs 260 apiece, following which the company will delist from the bourses.
By PTI |
NEW DELHI: Ahmedabad-based FMCG firm Nirma Ltd today said it has fixed the offer price for acquisition of shares held by the public at Rs 260 apiece, following which the company will delist from the bourses.
The discovered price -- the price at which the maximum number of equity shares were tendered by public shareholders in accordance with SEBI regulations -- is Rs 260 per share, the company said in a filing to the Bombay Stock Exchange.
"The acquirers (the company) have accepted the discovered price of Rs 260 per share (final price) and shall accept all bids at or below the final price," it said.
Shareholders of the company that have validly tendered their shares at or below the final price will be paid a consideration of Rs 260 per share, it added.
In December, Nirma Ltd had announced that it will delist from the bourses. In this regard, it said it would acquire all the 3.63 crore outstanding shares held by public, amounting to 22.83 per cent of the firm's equity capital.
At the discovered price, the total outgo of the company on acquisition of shares held by the public is estimated at over Rs 940 crore.
Payment to shareholders whose shares have been accepted under the offer will be completed on or before February 4, it said.
Shares of Nirma Ltd were being quoted at Rs 253.30 apiece in afternoon trade on the BSE today, up 1.16 per cent from the previous close.
The discovered price -- the price at which the maximum number of equity shares were tendered by public shareholders in accordance with SEBI regulations -- is Rs 260 per share, the company said in a filing to the Bombay Stock Exchange.
"The acquirers (the company) have accepted the discovered price of Rs 260 per share (final price) and shall accept all bids at or below the final price," it said.
Shareholders of the company that have validly tendered their shares at or below the final price will be paid a consideration of Rs 260 per share, it added.
In December, Nirma Ltd had announced that it will delist from the bourses. In this regard, it said it would acquire all the 3.63 crore outstanding shares held by public, amounting to 22.83 per cent of the firm's equity capital.
At the discovered price, the total outgo of the company on acquisition of shares held by the public is estimated at over Rs 940 crore.
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Payment to shareholders whose shares have been accepted under the offer will be completed on or before February 4, it said.
Shares of Nirma Ltd were being quoted at Rs 253.30 apiece in afternoon trade on the BSE today, up 1.16 per cent from the previous close.
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