The found worth by way of the reverse book-building course of, which began from December 13 to December 19, was Rs 525 per share.
Purchase / Promote DFM Meals share
AI World Investments (Cyprus) PCC Ltd., a subsidiary of US-based non-public fairness agency Creation Worldwide Corp, has rejected the found worth for the delisting of DFM Meals Ltd. shares.
The found worth by way of the reverse book-building course of, which began from December 13 to December 19, was Rs 525 per share.
Reverse book-building is a course of utilizing which an organization can delist from the bourses by deciding on the worth that must be paid to public shareholders to purchase again the shares.
AI World Investments has now introduced the counter supply at Rs 467 per share to accumulate a 26.3 p.c stake within the packaged meals firm. The tender window for this supply might open from December 30 to January 5.
AI World Investments presently holds a 73.70 p.c stake in DFM Meals. In August, it introduced the proposal to delist the share of the corporate from inventory exchanges and set the ground worth at Rs 263.80 per share.
If AI World had accepted the found worth of Rs 525 per share, its stake in DFM Meals would have elevated to 91.29 p.c, after which they might have delisted the corporate from the bourses.
Shares of DFM Meals gained almost 2 p.c in commerce on Wednesday to hit an intra-day excessive of Rs 451.70 apiece. The inventory has shot up 25 p.c within the final month whereas leaping 124 p.c within the final six months and 63 p.c over the previous yr.
DFM Meals is a packaged meals firm that makes the favored corn ring snacks underneath the model Crax.
Shares of DFM Meals ended 0.79 p.c greater at Rs 448.80 on Wednesday.
(Edited by : Rukmani Krishna)
