Jaypee Infratech's shares on the BSE are currently suspended. The company, as of May 24, is under the management of Suraksha Group, following NCLAT approval
Brokerage will now become wholly-owned subsidiary of ICICI Bank again after six years
Among public institutional investors, which own a total 16.68 per cent in the company, 83.8 per cent voted in favour of the delisting
Amid Quantum Mutual Fund voting against the proposed delisting of ICICI Securities, the largest public shareholder Norges Fund Investment Bank has voted in favour of the proposal of the stock broking arm of ICICI Bank. The foreign fund, which holds nearly 3.25 per cent stake in ICICI Securities, voted in favour on Thursday, the first day of e-voting, as per the information posted on the website of Norges Fund Investment Bank. The e-voting will remain open till March 26. The move of the Norway-based Norges Bank provided a shot in the arm of ICICI Securities' plan to delist itself as it needs two-thirds of the public shareholders' support to pass the resolution. However, Quantum Mutual Fund, which holds a 0.09 per cent stake in ICICI Securities, voted against the resolution on Thursday. Quantum Mutual Fund opposed the delisting as it did not find the swap share ratio lucrative to the shareholders of ICICI Securities. As per the scheme of arrangement, shareholders of ICICI Securitie
Sebi board meeting on Saturday may introduce a separate framework for delisting norms for holdcos
The company plans to delist its equity shares pursuant to a Scheme of Arrangement with ICICI Bank.
The company said delisting proposal will provide the public shareholders an opportunity to realise immediate and certain value for their equity shares.
The board of directors are scheduled to meet on April 20, 2023 to consider the proposal for voluntary delisting of the equity shares of the company.
The stock had hit a multi-year high of Rs 462.10 on Wednesday, ahead of the board meeting, after it surged 58 per cent in four days
The promoters expressed their intention either individually or collectively, as the case may be, acquire all equity shares that are held by public shareholders.
DFM Foods has outperformed the market by surging 47 per cent in a week, as compared to 1.5 per cent gain in the S&P BSE Sensex.
As on date, the promoter-AI Global Investments, hold 73.7 per cent stake in the company
Company had approached Bombay High Court after stock market regulator's January order
Board of Revathi Equipment would meet on January 7 to consider the proposal
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Under the Sebi norms, a company is required to make the final application to stock exchanges for delisting within one year of passing the special resolution
"The direction of the WTM to deposit a sum of Rs 1,292.46 crore is wholly arbitrary and has been passed without any application of mind," the tribunal said
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Officials said the assumption that Vedanta's delisting would have been successful at a price of Rs 140 was "completely misplaced
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