Reliance MediaWorks up 20%, board approves delisting offer

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.