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Ricoh India has fixed the floor price at Rs 58.01 for delisting by its foreign promoter.
The Ricoh India stock has almost doubled since Ricoh Asia Pacific Pte Ltd indicated its intention to delist the Indian arm on November 8. Shares of Ricoh India were ruling firm by four per cent at Rs 107 in early trade on Monday.
Currently, the promoters hold 73.60 per cent stake in the company, while retail investors control 20.83 per cent. Institutional presence is almost negligible.
The company board on November 11 had approved the foreign promoters' proposal for the delisting.
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