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The board of directors of Polaris Consulting & Services on Tuesday appointed YES Securities as merchant banker to conduct due diligence for a delisting proposal. The company had received permission from its promoter Virtusa Consulting Services for acquiring up to 2.617 crore shares (face value ₹5), representing 25.6 per cent of the paid-up capital of the company. As of September 30, the promoters held 74.42 per cent stake in the company while individual shareholders, including 37,498 small investors, held 11.64 per cent stake.
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