Alfa Laval approves delisting price at Rs 4000 per share

After a long drag, the parent of Alfa Laval has approved the delisting at Rs 4000 per share, reports CNBC-TV18's Harish Rao.

This is at a 5% premium to the Saturday's closing price. The company had given an indicative offer price of Rs 2,850 per share. So, this is at a 40% premium to the offer price.
This is also likely to surprise the street as maximum bids had come in at Rs 3,000 per share. However, at the current delisting price the company will have to shell out around Rs 820 crore as against Rs 417 crore which it had earlier set aside
This could trigger a rally in the delisting shares which has been going on in the market for some time on the back of successful delisting at a premium for Alfa Laval.