Fairfield Atlas has locked in upper circuit of 5% at Rs 124 after the company announce delisting plan.
“The board of directors of the company will meet tomorrow on February 26, 2013, to consider and approve the delisting offer received from parent company,” Fairfield Atlas said in a filing.
The company has received a letter from TH Licensing Inc., the promoter of the company proposing to make a voluntary delisting offer to the public shareholders of the company in accordance with the delisting regulations with a view to delist the equity shares of the company from BSE, it added.
The market regulator Securities and Exchange Board of India (Sebi) has mandated that all listed companies have to increase public shareholding to a minimum 25% by June 2013.
TH Licensing Inc. currently holds 83.91% of the paid-up capital of the company.
The stock opened at Rs 124 and has seen around 5,600 shares changing hands on BSE. There are pending buy orders for 318,037 shares on BSE at 1349 hours.
“The board of directors of the company will meet tomorrow on February 26, 2013, to consider and approve the delisting offer received from parent company,” Fairfield Atlas said in a filing.
The company has received a letter from TH Licensing Inc., the promoter of the company proposing to make a voluntary delisting offer to the public shareholders of the company in accordance with the delisting regulations with a view to delist the equity shares of the company from BSE, it added.
The market regulator Securities and Exchange Board of India (Sebi) has mandated that all listed companies have to increase public shareholding to a minimum 25% by June 2013.
TH Licensing Inc. currently holds 83.91% of the paid-up capital of the company.
The stock opened at Rs 124 and has seen around 5,600 shares changing hands on BSE. There are pending buy orders for 318,037 shares on BSE at 1349 hours.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%