Fairfield Atlas is trading higher by 3% at Rs 217 extending its three-month long rally on the Bombay Stock Exchange (BSE) on delisting plans.
The stock opened at Rs 215 and hit a high of Rs 222, also its record high on BSE. Around 22,000 shares have changed hands on the counter so far against an average 32,000 shares that were traded daily in past two weeks.
Shares of gear manufacturing company Fairfield Atlas has rallied 121% from Rs 98 on February 14 after the company announced delisting plans.
TH Licensing Inc, the promoter of the company is proposing to make a voluntary delisting offer to the public shareholders from the BSE to meet the market regulator mandate that all listed companies have to increase public shareholding to a minimum 25% by June 3.
TH Licensing Inc currently holds 83.91% stake of the paid-up capital of the company.
The company’s delisting offer opened on Wednesday, May 22 and closes on May 27. The company set an indicative floor price at almost Rs 136 a share, which is quite lower than the current market price.
The stock opened at Rs 215 and hit a high of Rs 222, also its record high on BSE. Around 22,000 shares have changed hands on the counter so far against an average 32,000 shares that were traded daily in past two weeks.
Shares of gear manufacturing company Fairfield Atlas has rallied 121% from Rs 98 on February 14 after the company announced delisting plans.
TH Licensing Inc, the promoter of the company is proposing to make a voluntary delisting offer to the public shareholders from the BSE to meet the market regulator mandate that all listed companies have to increase public shareholding to a minimum 25% by June 3.
TH Licensing Inc currently holds 83.91% stake of the paid-up capital of the company.
The company’s delisting offer opened on Wednesday, May 22 and closes on May 27. The company set an indicative floor price at almost Rs 136 a share, which is quite lower than the current market price.
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