Kalyani Investment, other Kalyani group shares jump up to 20% today. Here's why

Kalyani Investment Company, an investment firm of Kalyani Group, jumped 16 per cent in Monday's trade after another group investment firm BF Investment said its board may consider delisting of the company in a meeting on January 4.  Many group stocks where BF Investment has investments also gained in morning trade.

BF Investment hit a 20 per cent upper circuit limit at Rs 350.10 while shares of Kalyani Investment Company rose 15.91 per cent to hit a high of Rs 2,219.15 on BSE.

BF Investment has stakes in group companies such as BF Utilities, Bharat Forge, Hikal, Kalyani Steels, Automotive Axles.  Shares of Kalyani Steels advanced 5.67 per cent to Rs 382.  BF Utilities was up 8.71 per cent at Rs 420.20. Automotive Axles was up 1 per cent while Bharat Forge edged 0.5 per cent higher. Hikal, however, fell nearly 2 per cent lower.

BF Investment is a part of $2.5 billion Kalyani Group from Pune. It was formed by demerging investment business of BF Utilities by way of a Composite Scheme of Arrangement. Under the said business restructuring, investment business was transferred to BF Investment.

In a filing to BSE, BF Investment said DGM Realties, along with Ajinkya Investment and Trading Company and Sundaram Trading and Investment, which are members of the promoter and promoter group, will initiate the process of either individually or collectively, as the case may be, acquire all equity shares that are held by public shareholders.

The company said the promoters intent to voluntarily delist the equity shares from the stock exchanges where the equity shares are presently listed i.e., BSE and National Stock Exchange of India.

Like BF Investment, Kalyani Investment is also an investment arm of Kalyani group. It held material stakes in BF Utilities, Bharat Forge and Hikal. 

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