Essar Shipping falls 2.5% as delisting price at discount to CMP
The company has fixed floor price of Rs 20.76 per share, a discount of over 10.90 per cent to yesterday’s closing price of Rs 23.30.
By ET Online | Updated:
MUMBAI: Shares of Essar Shipping fell over 2.75 per cent intraday as company’s floor price for delisting proposal was at discount to current market price.
The company has fixed floor price of Rs 20.76 per share, a discount of over 10.90 per cent to yesterday’s closing price of Rs 23.30.
The stock had surged 20 per cent on Monday after the boards of directors had approved the delisting proposal.
At 02:00 p.m; the stock was at Rs 22.70, down 2.58 per cent, on the BSE. It touched a high of Rs 23.50 and a low of Rs 22.65 in trade today.
The company has fixed floor price of Rs 20.76 per share, a discount of over 10.90 per cent to yesterday’s closing price of Rs 23.30.
The stock had surged 20 per cent on Monday after the boards of directors had approved the delisting proposal.
At 02:00 p.m; the stock was at Rs 22.70, down 2.58 per cent, on the BSE. It touched a high of Rs 23.50 and a low of Rs 22.65 in trade today.
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