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Our Bureau

Kolkata, July 17 The overseas promoters of FCI OEN Connectors have announced an exit price of Rs 700 for a share of Rs 10 each for buyback of non-promoter stake of 31.69 per cent and consequential delisting of the stock after the open offer to the shareholders closed on July 13.

As per the offer terms, announcement of the exit price and the acquirers’ acceptance or non-acceptance of discovered price was to have been made today. The exit price was arrived at through a reverse book building process on the BSE electronic platform. The promoters – FCI SA and FCI France – have accepted the exit price and have informed shareholders that valid tenders would be bought back as per the earlier announced schedule. Post acceptance, the public shareholding would fall below 25 per cent, the threshold for delisting, the acquirers have informed.

The shares are currently listed on the BSE, NSE and Kochi Stock Exchange.

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FCI OEN fixes exit price at Rs 700

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