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FMCG major Nirma Ltd has deferred the exit window of one year from the date of delisting (offered to shareholders to exit the company) until further notice.
The decision was taken following SEBI’s directions on March 30, 2011 (through the stock exchanges BSE and NSE) to keep the delisting of Nirma’s shares in abeyance until further instructions.
The company informed the stock exchanges about the development late last evening through Kotak Mahindra Capital Company, the manager to the delisting offer.
Nirma had made a public announcement on March 30, 2011 on its decision to delist from the bourses and had informed shareholders that the mandatory exit window period (known as the exit offer) would begin on March 31, 2011 and would be open until March 30, 2012.
SEBI regulations require that the exit window should be made available to the remaining public shareholders for at least a period of one year from the date of delisting.
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