DelistingOpencloses Friday

Jindal Photo Limited

₹ per share: ₹1,119.50
Market price ₹ per share: ₹1,136.10; close 3 Nov
%: −1.5%

Timeline

Mon 2 NovWindow opens
Fri 6 NovWindow closes

The prices that matter

Floor ₹1,119.50
Market ₹1,136.10

Terms

Floor price: ₹1,119.5

How this works

The promoter offers to buy out every public shareholder so the company can leave the exchange, at no less than the floor price, the lowest SEBI allows, worked out from recent trading prices and book value. The promoter may also name a higher indicative price up front, and you tender through your broker during the bid window at any price at or above the floor, raising or withdrawing your bid until the day before the window closes. Bids are stacked from lowest to highest and the discovered price is where the promoter’s holding reaches 90%: up to the indicative price the promoter must buy, and pays the indicative price, while above it the promoter can accept, reject or make a counter offer, never below the indicative price. If the offer goes through, everyone who bid at or below the final price is paid that price, and if it fails, tendered shares come back and the stock stays listed; some delistings skip bidding and name one fixed price at least 15% above the floor.

Learn · Level 1How delisting works

Nothing here is investment advice. Verify with official sources. Full disclaimer.