TTK Healthcare shares jump nearly 6% on delisting price revision

TTK Healthcare has revised the floor price for delisting to Rs 1,201 per share, based on the feedback from exchanges. The company had earlier fixed Rs 1,051 as the delisting price.

Following the announcement, the stock rallied nearly 6% in Wednesday trade to Rs 1,283 apiece on NSE. So far this year, the shares have jumped nearly 26%.

"The acquirers based on the views and observations received from the stock exchanges recomputed the floor price as Rs 1,201.30 per equity share, by determining the reference date as the date of the Board Meeting (i.e. April 20) in which the delisting proposal was considered and approved," the company said in a filing.


The said communication received from the acquirers with the certificate of the revised floor price issued has been taken on record by the Board of Directors and accorded approval.

TTK Healhcare's board approved the voluntary delisting of the company in April.

All the public shares will be acquired by promoters and members of the promoter group viz. T T Jagannathan, T T Raghunathan, and TT Krishnamachari and Co.
TTK Healthcare is a Chennai-based company, which has a business interest in consumer and healthcare products. The six-decade-old company also manufactures medical devices.

Under the consumer product division, the company distributes products across categories including baby care (Woodward's Gripe Water), personal care (Eva), and homecare (Good Home).

With a market capitalisation of Rs 1,816.38, TTK Healthcare is a smallcap firm. The stock hit its 52-week high of Rs 1,450 on April 6 this year. The 52-week low is at Rs 667.50.

For the quarter ended March, the company clocked revenues of Rs 180 crore, while net profit for the same period came in at Rs 16.9 crore.

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