 "Polaris gets Board's nod to delist")
Polaris Consulting & Services Limited has said that the Board of Directors has approved its delisting proposal.
The meeting was held on Tuesday after the public shareholders received a delisting proposal for acquiring 26,172,715 equity shares of the company, each worth Rs 5. The total number of shares offered represents 25.60 per cent of the company's stocks held by public shareholders.
The Board also approved the appointment of Yes Securities as the merchant banker for carrying out due diligence for the delisting.
Virtusa Consulting Services, the company's new promoter, said that it would help them to provide enhanced operational flexibility.
