Alfa Laval (India),a subsidiary of Sweden-based Alfa Laval Corporate AB,today said its delisting offer will commence on February 15.
The entity,which offers heat transfer,separation and fluid handling technologies,said in a statement: “The opening date for the bid is February 15,2012,and will close on February 22,2012.”
Alfa Laval (India) had said the promoter firm will make a delisting offer to acquire up to 2,040,202 shares,accounting for a 11.23 per cent stake in the domestic entity. At present,the promoter company holds a 88.77 per cent stake in Alfa Laval (India).
Earlier this month,the parent firm had raised the delisting offer price to Rs 2,850 a share from Rs 2,045 apiece.
Market experts feel the offer price of Rs 2,850 per equity share is attractive and fairly priced for investors,especially retail shareholders.
In September,2011,the company’s board had accepted the delisting proposal and in October fixed a floor price of Rs 2,045 a share to buy out the outstanding public float.
JM Financial Consultants is the merchant banker assisting Alfa Laval with the delisting offer.
After the successful offer,shares of the company would get delisted from the BSE and the National Stock Exchange.
Shares of the company were quoting at Rs 2,858 apiece on the BSE today,up 1.11 per cent from their previous close.