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Shreyas Shipping's book-building for delisting complete
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Shreyas Shipping's shares hit the 20% upper circuit on Tuesday, following the successful completion of the book-building process for delisting the company from the stock exchanges. About 4.3 million shares were tendered by the shareholders, surpassing the minimum requirement of 4.07 million shares.
Transworld Holdings (THL), the promoter of Shreyas Shipping, offered to acquire shares of the company from the public shareholders in May at an indicative price of ₹338.
The indicative price was revised to ₹375 this month. The floor price determined as per delisting regulations was ₹292 per share.
However, the cut-off price in the book-building process exceeded ₹800 per share.
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