Alfa Laval delisting offer evokes huge investor response on day 1 with 1.68 lakh shares being tendered
Attracting huge investor response on day one, Alfa Laval delisting offer already got 8.25% of the 20,40,202 shares on offer in delisting buyback, which is 1,68,334 shares being tendered. It is a largest first day response for the delisting offers on day one in the recent past. The current public shareholding is 11.23 %, which is 2,040,202 shares and for the offer to be successfully delisted minimum 50 % of the shares i.e. 1,020,101 shares should be subscribed to the offer.
Most of the offers came at a price range between Rs 2850 - Rs 3150. The company had given the indicative offer price of Rs 2850, however, market feels the offer is likely to get completed around Rs 3100 - Rs 3150 per share.
• Offer open from February 15, 2012 - February 22, 2012
• Indicative price of Rs 2,850 per Equity Share
JM Financial Consultants Private ltd is the merchant banker assisting Alfa Laval with the delisting.
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