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Our Bureau

Ondeo Nalco fixes exit price as Rs 725

Mumbai , Nov. 13

The courier and express cargo company Blue Dart's plan to de-list itself from stock exchange has failed.

Shareholders have asked for a price of Rs 950 per share, which was not acceptable to the company.

This price, determined through the reverse book building process, was higher than the ruling price of Rs 605 (on the BSE on Monday).

The company — Blue Dart Express Ltd — will continue to remain listed on the bourses.

The public shareholders now hold 45,00,047 equity shares in the company aggregating to 18.97 per cent.

The shares are listed on the BSE and the NSE.

The shares deposited in the special depository account of the trading members during the reverse book building process will be returned to the relevant shareholders.

Ondeo Nalco India

Kotak Mahindra Capital Company Ltd, on behalf of Nalco Holding Company and Nalco Company, has accepted the exit price of Rs 725 per share for the de-listing of equity shares of Ondeo Nalco India Ltd.

Ondeo Nalco shares closed at Rs 702 on the BSE on Monday.

The company will acquire 8,67,015 shares of the equity capital owned by the shareholders.

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Blue Dart Express plan to de-list fails

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