Sparsh BPO to delist from BSE; shares soars 10 per cent

Sparsh BPO Services on Monday said its board has approved a proposal of the promoters to delist from the BSE by acquiring entire 25.06 per cent holding from shareholders, a development that led to a 10 per cent spurt in the stock.

The board, at a meeting held on October 8, has approved the proposal of promoters -- Intelenet Global Services and SKR BPO Services -- to delist, Sparsh said in a filing to the Bombay Stock Exchange.

The promoters hold 1.21 crore equity shares in the company, the filing added.

As per June quarter shareholding available on the BSE, Intelenet Global Services held 51 per cent and SKR BPO Services held 20 per cent stake in Sparsh BPO Services.

Reacting to the development, the shares of Sparsh BPO Services soared 10 per cent to hit a year-high level of Rs 78.10.

Now the company has to seek shareholders nod to delist.

On October 8, Sparsh BPO Services had informed the bourse that it has received a letter from the promoters, informing the company of their decision to seek voluntary delisting of the equity shares, it said.