BOC India delisting plan fails; stock down

MUMBAI: The plan of BOC India, which is a part of the German Linde group, to delist its shares from stock exchanges in India appears to have failed due to a poor response from public shareholders, underlining the growing resistance to multinational firm’s efforts to take their local arm private.

The company had set Rs 225.29 as a floor price to acquire 10.52 per cent of paid-up capital or 89.75 lakh equity shares.

The stock was witnessing selling pressure and was at Rs 255, down 2.56 per cent on the NSE. It touched a high of Rs 262 and low of Rs 252.50 in trade so far.