Denso India voluntary delisting offer to open on September 17

NEW DELHI: Automotive Component maker Denso India today said the voluntary delisting offer by its parent company Denso Corporation to acquire the remaining 26.54 per cent stake in it will open on September 17 and close on September 20.

In a filing to the BSE, the company said the floor price for the delisting offer is Rs 59.70 per share, while the indicative price has been set at Rs 95 per share.

Denso Corporation is offering to acquire up to 7,398,019 equity shares through the offer.

The promoters of the company will delist from stock exchanges upon reaching minimum 90 per cent share holding.

As of June 2013, the promoters (Denso Corporation and other promoters) held 73.46 per cent.

In April 2013, Denso Corporation that holds 47.93 per cent stake in the company, had announced it planned to delist the Indian arm.

The equity shares are at present listed and traded on the BSE, DSE ( Delhi Stock Exchange)and MSE ( Madras Stock Exchange).