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Shares of DFM Foods jumped 20 per cent to ₹304.30 on the BSE due to delisting proposal from private equity firm Advent International, which holds a majority stake via its subsidiary AI Global Investments
On Monday, it announced the proposal to delist the snack maker from the stock exchanges.
In a regulatory filing, Advent expressed AI Global's intention to "acquire all the equity shares that are held by public shareholders, either individually or collectively, as the case may be."
"We are pleased to inform you that JM Financial Limited has been appointed as the manager to the delisting proposal," it further said.
Currently, promoter AI Global Investments (Cyprus) PCC Ltd holds 73.70 per cent stake while some 27,000 individual shareholders hold 15.14 stake (76.10 lakh shares) and 8 high net worth individuals 3.97 per cent stake (19.97 lakh shares). Mutual funds hold 3.39 stake, including Invesco MF's 2.50 stake, while FPIs own 0.37 per cent stake.
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