Stock Report

Bombay Swadeshi Stores Ltd updates on Voluntary Delisting of Equity Shares



Posted On : 2015-06-05 09:51:10( TIMEZONE : IST )

Bombay Swadeshi Stores Ltd updates on Voluntary Delisting of Equity Shares

Bombay Swadeshi Stores Ltd updates on Voluntary Delisting of Equity SharesThe Board of Directors of Bombay Swadeshi Stores Ltd at its meeting held on June 03, 2015, has considered the receipt of a letter dated April 28, 2015 from Ms. Madhu Chandak, Ms. Manjri Chandak and Ms. Jyoti Varun Kabra ('Acquirers'), expressing their intention to voluntarily delist the Company's equity shares from the BSE Limited by acquiring the equity shares held by the public shareholders of the Company duly complying with Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009, as amended ('Delisting Regulations') and other applicable provisions of law.

The due diligence report ("DDR") submitted by the Merchant Banker, Inga Capital Private Limited dated May 29, 2015.

The Board of the Company at their meeting held on June 03, 2015, discussed & considered various factors including the above mentioned DDR. The Board has approved the proposed voluntary delisting of equity shares of the Company from BSE Limited as offered by the Acquirers and also decided that the said voluntary delisting proposal be communicated and recommended for approval by the members of the Company through Postal Ballot process as required by the Delisting Regulations.

Shares of BOMBAY SWADESHI STORES LTD. was last trading in BSE at Rs.134.3 as compared to the previous close of Rs. 141.3. The total number of shares traded during the day was 525 in over 6 trades.

The stock hit an intraday high of Rs. 134.3 and intraday low of 134.3. The net turnover during the day was Rs. 70507.

Source : Equity Bulls

Keywords