After stock rally, Polaris Consulting delisting offer may not go through

After the recent rally in Polaris, discovered price may be much higher than floor price

The delisting proposal for Polaris Consulting & Services by Virtusa Consulting Services, which owns 74.22 per cent in the company, is unlikely to go through as the stock price has surged over 60 per cent since its price before the delisting announcement. 

The stock of Polaris, which was trading at around Rs 242 apiece prior to the voluntary delisting announcement on October 26, 2017, is currently trading at Rs 401 on the BSE.

According to the company filings, the floor price for the delisting offer is Rs 232.37 per equity share of Polaris, which is much lower than the current