Atlas Copco India Ltd, the Indian arm of Atlas Copco AB Sweden, has informed the stock exchanges through its book running lead manager JM Financial that its delisting offer has been successful.
The Swedish parent company had made a public announcement to acquire up to 36,62,204 equity shares representing 16.23 per cent of the equity share capital of Atlas Copco India from the public shareholders through a reverse book building process and de-list from the Bombay and Pune Stock Exchanges..
The company statement on Friday said that the minimum number of equity shares required to be tendered in the delisting offer at or below the exit price of the delisting offer to be successful was 50 per cent of the total shares intended to be acquired.
The exit price has been fixed at Rs 2,750 a equity share and the company would exceed the minimum number of shares required for the delisting offer.
Dates and deadlines
Public shareholders whose bids have been accepted will receive their money by March 25. Those shareholders whose bids have been rejected will receive the shares in their demat accounts by March 25 and in case of physical shares, March 25 would be the last date of dispatch for crediting the shareholder's beneficiary account.
Shareholders who were not able to participate in the reverse book building process and shareholders who were unsuccessful in their first attempt will be able to offer their shares to the company through the BSE, said the statement. Such shareholders will receive a separate exit offer letter and they in turn have to tender their shares to the registrar to the offer within the time limit specified in the offer letter.
On Friday, Atlas Copco scrip closed at Rs 2,666.45, a new high, on the BSE,