Offer to delist from the stock exchanges has seen Atlas Copco (India) go on a gaining spree this week. Today, however the stock was down in line with the market. It ended 1.59% down or Rs 32.25 to close at Rs 1,999 on the BSE. The stock has risen 125.23% in the last one year. It touched an intraday high of Rs 2,047 and an intraday low of Rs 1,960. There were pending sell orders of 10 shares, with no buyers available. The total traded volumes were of 37,885 shares.
The stock touched its 52-week high of Rs 2,243.20 and a 52-week low of Rs 905.00 on January 27, 2011 and March 15, 2010, respectively. Currently, it is trading -10.89% below its 52-week high and 120.88% above its 52-week low. Its market capitalisation stands at Rs 4,510.06 crore.The company's offer to exit from the stock exchanges has received a positive response from institutional investors. Many large shareholders tendered their shares on the first day of the delisting offer. A total of 12.1 lakh shares have been tendered for delisting purpose, reports CNBC-TV18. The company needs 18.3 lakh to delist.Maximum number of shares were tendered at Rs 2500 per share. The large mutual funds who held a bulk of the institutional holding in the company included HDFC MF, DSP BlackRock and Sundaram MF. The offer which was made through a reverse book-building process opened on March 7.The floor price for delisting has been set at Rs 2250, revised upwards from Rs 1426 per share. The offer for delisting will close tomorrow.The company's Sweden-based promoter, Atlast Copco AB, has offered to take full ownership of the company. The parent company currently holds 83.77% stake in the local unit and has made an offer to buy back the balance 16.23% public stake through the offer.Peer comparison:| Company | Last Price (Rs) | Market Cap (Rs in Cr) | Sales Turnover (Rs in Cr) | PAT (Rs in Cr) |
| Elgi Equipments | 90.15 | 1409.34 | 582.54 | 55.25 |
| Ingersoll Rand | 414.1 | 1307.23 | 381.03 | 47.4 |
| Revathi CP | 419 | 128.5 | 113.89 | 9.86 |
| Atlas Copco | 1999 | 4510.06 | 1687.83 | 166.37 |
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