 "Manjushree Technopack zooms 20% on delisting plan")
Manjushree Technopack has locked in upper circuit of 20% at Rs 442 on National Stock Exchange (NSE) after the company said its board approved the voluntary delisting of the equity shares of the company.
The company received a letter from the promoters Shruti Financial Services Pvt Ltd and Manjushree Fincap Pvt Ltd informing a proposal to voluntarily delist the equity shares of the company currently listed on the NSE and BSE.
Currently, the promoters held 71.08% stake in the company, while the remaining holdings are with the individual shareholders (24.81%) and bodies corporate (3.05%).
Meanwhile, the company said, the promoters also received a letter from investors - Ladoga Holdings and Kedaara Capital Alternative Investment Fund – Kerala Capital AIF – indicating an initial interest in purchasing upto 24% of the equity share capital of the company at a price of Rs 455 per equity share of the company.
At 0943 hours, a combined 27,047 shares changed hands and there are pending buy orders for 236,457 shares on the NSE and BSE.
The company received a letter from the promoters Shruti Financial Services Pvt Ltd and Manjushree Fincap Pvt Ltd informing a proposal to voluntarily delist the equity shares of the company currently listed on the NSE and BSE.
Currently, the promoters held 71.08% stake in the company, while the remaining holdings are with the individual shareholders (24.81%) and bodies corporate (3.05%).
Meanwhile, the company said, the promoters also received a letter from investors - Ladoga Holdings and Kedaara Capital Alternative Investment Fund – Kerala Capital AIF – indicating an initial interest in purchasing upto 24% of the equity share capital of the company at a price of Rs 455 per equity share of the company.
At 0943 hours, a combined 27,047 shares changed hands and there are pending buy orders for 236,457 shares on the NSE and BSE.
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