MUMBAI: Alpha Laval (India), a subsidiary of Sweden-based Alpha Laval Corporate AB, today said its parent company has raised the price of its delisting offer by Rs 2,850 per share.
In a filing on the BSE, Alpha Laval India said that its parent company had increased the price of delisting offers “considering the prevailing market situation and rewarding the shareholders”.
However, the company added, “The offer price should in no way be construed as a maximum limit or maximum price for the reverse book-building process and public shareholders are free to tender their equity shares at a higher price than the indicator. Offer price.”
Responding to the news, the company’s stock rose 14.40 per cent to close at Rs 2,710.85 per piece on the BSE. In intra-day trade, the stock reached a 52-week high of Rs 2,742.
The entity that offers heat transfer, separation and liquid handling technology will be listed on the BSE and the National Stock Exchange.
In September 2011, the company’s board accepted the delisting offer and set a floor price of Rs 2,045 per share for the purchase of the outstanding public float in October.
Alpha Laval (India) said the promoter firm would make a delisting offer for the acquisition of 2,040,202 shares, accounting for 11.23 per cent stake in the domestic entity.
At present, the promoter company Alpha Laval (India) has 88.77 per cent stake.