Alfa raises delisting worth to Rs 2,850 a share

Mar 19, 2023 | blog

MUMBAI: Alfa Laval (India), a subsidiary of Sweden-based Alfa Laval Corporate AB, right now stated its dad or mum agency has raised the delisting provide worth to Rs 2,850 a share.

In a submitting with the BSE, Alfa Laval India stated its dad or mum firm elevated the delisting provide worth after “considering the prevailing market conditions and with a view to reward shareholders”.

However, the corporate additional stated, “Offer price should in no way be construed as a ceiling or maximum price for the purpose of the reverse book-building process and the public shareholders are free to tender their equity shares at any price higher than the indicative offer price.”

Reacting to the information, the corporate’s shares surged by 14.40 per cent to shut at Rs 2,710.85 a bit on the BSE. In the intra-day commerce, the inventory hit a 52-week excessive of Rs 2,742.

The entity that gives warmth switch, separation and fluid dealing with applied sciences could be delisted from the BSE and the National Stock Exchange.

In September 2011, the corporate’s board had accepted the delisting proposal and in October mounted a flooring worth of Rs 2,045 a share to purchase out the excellent public float.

Alfa Laval (India) had stated the promoter agency would make a delisting provide to accumulate as much as 2,040,202 shares, accounting for 11.23 per cent stake within the home entity.

At current, the promoter firm holds 88.77 per cent stake in Alfa Laval (India).

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