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    HomeNewsBusinessStocksReliance MediaWorks up 20%, board approves delisting offer

    Reliance MediaWorks up 20%, board approves delisting offer

    "The board of directors has granted its approval to the proposed delisting offer and intends to seek the approval of shareholders of the company through postal ballot in terms of the SEBI delisting regulations," it said.

    January 20, 2014 / 15:58 IST

    Moneycontrol Bureau

    Shares of Reliance MediaWorks jumped nearly 20 percent intraday on its delisting plans. In its meeting held today, the board has given a nod to delist the stock and will seek shareholders approval.

    “The board of directors has granted its approval to the proposed delisting offer and intends to seek the approval of shareholders of the company through postal ballot in terms of the SEBI delisting regulations,” it said.

    The promoters held 73.30% stake as on September 30 2013, the shareholding pattern data shows.

    The stock closed at Rs 55.25, up Rs 8.85, or 19.07 percent on the BSE.

    first published: Jan 20, 2014 03:58 pm

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