Prabhat Dairy hits 20% upper circuit as it mulls voluntary delisting
Posted by :- Rupa Roy
The stock price of Prabhat Dairy were locked in 20% upper circuit band at Rs 78.15 apiece on the BSE on Friday, as the company filed an statement regarding voluntary delisting of the equity shares of the firm.
The company said that the promoters, including Sarangdhar Ramchandra Nirmal, and Vivek Sarangdhar Nirmal, were mulling purchasing publicly held shares, and delisting of the company. "In the letter, the promoters have expressed their intention to acquire 4,87,40,547 fully paidvup equity shares of the Company representing 49.90% of the paidrup equity share capital of the Company that are presently held by the public shareholders of the company", the company said in a regulatory filing.
The promoter groups presently holds 4,89,35,584 fully paid-up equity shares of the Prabhat Dairy representing 50.10% of the paid-up equity share capital. Of this, Nirmal Family Trust, Sarangdhar Ramchandra Nirmal and Vivek Sarangdhar Nirmal held 46.64%, 1.15%, and 1.15%, respectively.