Allcargo shares shed nearly 4% as delisting floor price disappoints

The company on Saturday announced that its promoters have set the floor price at Rs 92.58, which is 19% lower than the firm's last closing price of Rs 114.5 on Monday

Shares of Allcargo Logistics dropped nearly 4 per cent on Monday after the floor price set for delisting disappointed investors. The company had, on Saturday, announced that its promoters had set the floor price for delisting at Rs 92.58 — 19 per cent lower than Allcargo’s last closing of Rs 114.5 on Monday.

The floor price is the base price at which promoters intend to purchase shares from the public to take the company private. The final delisting price is always at a steep premium to the floor price.

Experts said investors expressed disappointment over the low floor price as it signals