The post offer public announcement has been issued by Corporate Professionals Capital Private Limited, which is manager to the offer as regards delisting of the equity shares having face value of Rs 10 each for ECE Industries Limited.
Promoters of the company are seeking to acquire upto 24,21,416 equity shares, representing 33.22% of fully paid up equity share capital of the company. In the reverse book building process (RBP), the final price of the delisting offer has been set at Rs 204 per equity share.
Bid period for the RBP is from December 26, 2016 to December 30, 2016.
Delisting will be successful only if a minimum of 16,92,552 stocks are tendered and acquired in the delisting process.
If equity shareholders are not able to tender their stocks in the RBP process, then they can later offer their shares to the promoter at th exit price during a period of one year starting from the date of delisting from NSE (Exit Window).
ECE Industries Ltd ended at Rs 140, down by Rs 5 or 3.45% from its previous closing of Rs 145 on the BSE.
The scrip opened at Rs 150.3 and touched a high and low of Rs 150.3 and Rs 140 respectively. A total of 3989(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 170.41 crore.
The BSE group 'B' stock of face value Rs 10 touched a 52 week high of Rs 0 on 01-Jan-1970 and a 52 week low of Rs 0 on 01-Jan-1970. Last one week high and low of the scrip stood at Rs 0 and Rs 0 respectively.
The promoters holding in the company stood at 66.78 % while Institutions and Non-Institutions held 0.01 % and 33.21 % respectively.
The stock traded above its 200 DMA.