Ricoh India is locked in upper circuit of 5% at Rs 137 after the company has fixed the delisting price, at which the promoter may be willing to accept the equity shares tendered in the delisting offer.
The company has fixed an indicative price of Rs 120 per share, a more-than-double than the floor price of Rs 58.01 fixed in November 18, 2013.
After considering the prevailing market conditions, the promoter Ricoh Asia Pacific Pte Ltd (Acquire), hereby indicates, Rs 120 per equity share, as an indicative price at which the acquirer may be willing to accept the equity shares tendered in the delisting offer, Ricoh India said in a BSE filing.
The Ricoh India stock has more than doubled from Rs 59.60 since Ricoh Asia Pacific Pte Ltd indicated its intention to delist the Indian arm on November 8.
Currently, the promoters hold 73.60% stake in the company. The retail investors control 20.83%, while the 5.57% stakes are with the bodies corporate (4.93%) and others.
The stock opened at Rs 131 and hit a low of Rs 130 in early morning deals on the BSE. Till 1140 hours, around 143,000 shares changed hands on the counter and there are pending buy orders for 25,790 shares on the BSE.
The company has fixed an indicative price of Rs 120 per share, a more-than-double than the floor price of Rs 58.01 fixed in November 18, 2013.
After considering the prevailing market conditions, the promoter Ricoh Asia Pacific Pte Ltd (Acquire), hereby indicates, Rs 120 per equity share, as an indicative price at which the acquirer may be willing to accept the equity shares tendered in the delisting offer, Ricoh India said in a BSE filing.
The Ricoh India stock has more than doubled from Rs 59.60 since Ricoh Asia Pacific Pte Ltd indicated its intention to delist the Indian arm on November 8.
Currently, the promoters hold 73.60% stake in the company. The retail investors control 20.83%, while the 5.57% stakes are with the bodies corporate (4.93%) and others.
The stock opened at Rs 131 and hit a low of Rs 130 in early morning deals on the BSE. Till 1140 hours, around 143,000 shares changed hands on the counter and there are pending buy orders for 25,790 shares on the BSE.
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