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Binani Cement delisted from bourses

Press Trust of India  |  New Delhi 

(BIL) today said its cement making arm has been delisted from the Bombay Stock Exchange and National Stock Exchange with effect from May 30.

"has informed to equity shareholders of [that it} will be delisted with effect from May 30 from the and NSE," BIL said in a communique to the stock exchanges.

Delisting of company's equity shares is actually stopping the stocks from further trading on the bourses.

BIL had in January launched an open offer to acquire 30.1% stake in At present, BIL has 95.01% stake in

BIL has also tendered an exit opportunity to Binani Cement's residual shareholders.

"Residual shareholders will be able to tender their shares in favour of the promoter [BIL] at the exit price of Rs 90 per equity share, at any time from May 30, 2011 till May 29, 2012," it said.

First Published: Tue, May 31 2011. 20:45 IST