Alfa Laval delisting offer gets 1.68 lakh shares on day one
It is one of the largest first day responses for the delisting offers on day one in the recent past, the company claimed in a statement issued here.
By PTI | Updated:
MUMBAI: Alfa Laval Ltd on Wednesday said its delisting offer received 8.25 percent of the 20,40,202 shares on offer in delisting buyback, which is 1,68,334 shares being tendered on day one of the offer.
It is one of the largest first day responses for the delisting offers on day one in the recent past, the company claimed in a statement issued here.
The current public shareholding is 11.23 percent, which is 2,040,202 shares and for the offer to be successfully delisted minimum 50 percent of the shares i.e. 1,020,101 shares should be subscribed to the offer, it said.
Most of the offers came at a price range between Rs 2,850 - Rs 3,150. The company had given the indicative offer price of Rs 2,850. However, market feels the offer is likely to get completed around Rs 3,100-Rs 3,150 per share.
The delisting offer is open from February 15 to February 22, 2012 and the indicative price is Rs 2,850 per equity share, the release said.
JM Financial Consultants Private ltd is the merchant banker assisting Alfa Laval with the delisting.
It is one of the largest first day responses for the delisting offers on day one in the recent past, the company claimed in a statement issued here.
The current public shareholding is 11.23 percent, which is 2,040,202 shares and for the offer to be successfully delisted minimum 50 percent of the shares i.e. 1,020,101 shares should be subscribed to the offer, it said.
Most of the offers came at a price range between Rs 2,850 - Rs 3,150. The company had given the indicative offer price of Rs 2,850. However, market feels the offer is likely to get completed around Rs 3,100-Rs 3,150 per share.
The delisting offer is open from February 15 to February 22, 2012 and the indicative price is Rs 2,850 per equity share, the release said.
JM Financial Consultants Private ltd is the merchant banker assisting Alfa Laval with the delisting.
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