Spice Mobility rallies nearly 10% on delisting plans
The company, which has received Board approval for voluntary delisting of equity shares, will now seek approval of member shareholders.
By ET Online | Updated:
NEW DELHI: Spice Mobility Ltd rallied as much as 9.8 per cent in trade in trade on Monday after the domestic handset maker said it will delist from the BSE and National Stock Exchange (NSE).
The company, which has received Board approval for voluntary delisting of equity shares, will now seek approval of member shareholders, PTI reported.
At 09:30 a.m.; Spice Mobility pared some of the morning gains but was still trading 4.8 per cent higher at Rs 33.50. It hit a low of Rs 32.50 and a high of Rs 35.10 in trade today.
"... the Board of Directors of the company, at its meeting held on January 2, 2015, approved the proposal received from Smart Ventures, the promoter of the company, to voluntarily delist the equity shares of the company from the NSE and BSE," it said in a filing to the exchanges.
The company, which has received Board approval for voluntary delisting of equity shares, will now seek approval of member shareholders, PTI reported.
At 09:30 a.m.; Spice Mobility pared some of the morning gains but was still trading 4.8 per cent higher at Rs 33.50. It hit a low of Rs 32.50 and a high of Rs 35.10 in trade today.
"... the Board of Directors of the company, at its meeting held on January 2, 2015, approved the proposal received from Smart Ventures, the promoter of the company, to voluntarily delist the equity shares of the company from the NSE and BSE," it said in a filing to the exchanges.
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