Infinite Computer locked at 20% upper circuit on delisting proposal

Share price of Infinite Computer Solutions India locked at 20 percent upper circuit as the company is going to consider de-listing proposal.

There were pending buy orders of 260,881 shares, with no sellers available.

The company's board meeting will be held on January 12, 2018 to consider the proposal of voluntary delisting proposal made by the promoter and promoter group companies.

It will also consider to appoint a merchant banker for carrying out due diligence as required under regulation 8(1A) (ii) of the delisting regulations.

The promoter and promoter group companies currently holding 74.98 percent stake (2,50,11,036) in the company and expressing their intent to give offer to the public shareholders of the company to acquire entire 83,44,478 equity shares of the company.

At 13:12 hrs Infinite Computer Solutions India was quoting at Rs 334.70, up Rs 55.75, or 19.99 percent.

It has touched a 52-week high of Rs 334.70