Atlas Copco delisting offer gets 41%

The delisting offer of Atlas Copco India has received good response from investors.

The delisting offer of construction equipment maker Atlas Copco India has received good response from investors with over 41 per cent of public shareholders tendering their holding.

The delisting offer,which would close tomorrow,has seen 15.07 lakh shares getting tendered,representing 41.15 per cent of the total offer size,according to the data available on Bombay Stock Exchange.

Atlas Copco AB,the Sweden-based promoter of the firm,has made the offer to obtain full ownership of the company.

The Swedish parent presently holds 83.77 per cent stake in the local unit and has made an offer to buy back the remaining 16.23 per cent public stake though this offer.

Several large investors,including HDFC MF,DSP Black Rock and Sundaram MF,have already tendered their shares in the offer,according to the sources.

Market experts believe retail investors may rush in tomorrow,the last day of the delisting offer,to tender their shares.

The company has set the floor price for the delisting at Rs 1,426 per equity share and the promoters have given an indicative offer price of Rs 2,250 per equity share.

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Shares of Atlas Copco India today closed at Rs 1,999 a piece on the Bombay Stock Exchange.

After the successful offer,the company shares would get delisted from the Bombay Stock Exchange and from Pune Stock Exchange. The company is listed on the local bourse since 1972.