City-based TTK Healthcare Ltd. on Friday mentioned its shares will continue to stay listed on main bourses for buying and selling.
Recently, the promoters, holding about 74.56% of share capital, made a bid to purchase again up to 25.44% shares from the general public by a reverse book-building course of with a view to voluntarily delist the corporate’s shares from the exchanges.
As a part of the delisting train, the promoters/acquirers supplied ₹1,201.30 a bit for 35,94,493 shares. The bid began on July 20 and ended on July 26.
In all, the general public shareholders tendered solely 17,03,842 shares, which is lower than the variety of shares required to be accepted by the acquirers for delisting. In different phrases, they had been ready to purchase 87% of shares towards the delisting rules of 90%.
As the delisting provide is deemed to have failed, the acquirers will not purchase any fairness shares tendered by the general public within the delisting provide and the fairness shares will continue to stay listed on the inventory exchanges. Further, no ultimate utility shall be made to the inventory exchanges for delisting, the corporate mentioned.
Shares of the corporate gained ₹10.30, or 0.88%, to shut at ₹1,185.55 on the BSE on Friday.
