Shares of Alfa Laval (India) gained nearly 20 per cent on Monday after the company said its Swedish parent wanted to buy the remaining 11.23 per cent stake from public shareholders and delist shares from Indian bourses.
The company’s stock opened at Rs 2,160 on the Bombay Stock Exchange (BSE) and touched an all-time high of Rs 2,357.80 during the day’s trade. It was finally up Rs 386.90, or 19.7 per cent, at Rs 2,351.65. Alfa Laval Corporate AB, Sweden, the world's biggest maker of heat exchangers, owns 88.8 per cent in its India unit.
Given that the company’s shares are infrequently traded, the floor price for the delisting offer will be determined by a chartered accountant firm, Alfa Laval (India) said in statement to the stock exchanges.