Reverse book-building of Dhankari Investments, iGATE ends Friday
The reverse book-building of issues of Dhankari Investments and iGATE Global Solutions come to an end on Friday.
By INDIATIMES NEWS NETWORK |
MUMBAI: The reverse book-building of issues of Dhankari Investments and iGATE Global Solutions come to an end on Friday. Dhankari is buying back 24,850 equity shares of Rs 10 each at offer price of Rs 83.50 per share, while iGATE is looking to acquire 60,55,284 shares of Rs 4 face value at floor price Rs 288.90 per share.
iGATE Corporation of US, which holds 25,662,309 shares representing 80.91 per cent of the fully paid–up capital, plans to buy back 60,55,284 equity shares or 19.09 per cent in iGATE Global Solutions.
The company plans to delist the shares from the Bombay Stock Exchange, National Stock Exchange and Bangalore Stock Exchange.
Shareholders of the company approved the delisting through a special resolution passed at an extraordinary general meeting on November 13, 2007. The delisting is in order to simplify the capital structure, eliminate the necessity for maintaining multiple listings, and for streamlining the operational flexibility globally.
The bid offer opened on November 26. The company will announce the exit price and acceptance/non-acceptance of it on December 4.
Dhankari Investments had passed a special resolution in the EGM on July 4, 2007 for voluntary delisting of its shares from the Delhi Stock Exchange, the only exchange where the shares are listed. The shares have not been traded in for the last seven years.
The promoter group of Dhankari Investments, Dhruv M Sawhney, holds 2,22,650 equity shares aggregating to 89.96 per cent of the total paid up share capital. The acquirer proposes to acquire the remaining 24,850 equity shares with the public or 10.04 per cent, giving them an exit option, before delisting.
The floor price of the Rs 10 face value share has been set at Rs 83.50 per share. The bid opened on November 28.
iGATE Corporation of US, which holds 25,662,309 shares representing 80.91 per cent of the fully paid–up capital, plans to buy back 60,55,284 equity shares or 19.09 per cent in iGATE Global Solutions.
The company plans to delist the shares from the Bombay Stock Exchange, National Stock Exchange and Bangalore Stock Exchange.
Shareholders of the company approved the delisting through a special resolution passed at an extraordinary general meeting on November 13, 2007. The delisting is in order to simplify the capital structure, eliminate the necessity for maintaining multiple listings, and for streamlining the operational flexibility globally.
The bid offer opened on November 26. The company will announce the exit price and acceptance/non-acceptance of it on December 4.
Dhankari Investments had passed a special resolution in the EGM on July 4, 2007 for voluntary delisting of its shares from the Delhi Stock Exchange, the only exchange where the shares are listed. The shares have not been traded in for the last seven years.
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The promoter group of Dhankari Investments, Dhruv M Sawhney, holds 2,22,650 equity shares aggregating to 89.96 per cent of the total paid up share capital. The acquirer proposes to acquire the remaining 24,850 equity shares with the public or 10.04 per cent, giving them an exit option, before delisting.
The floor price of the Rs 10 face value share has been set at Rs 83.50 per share. The bid opened on November 28.
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