Stock in News: Prabhat Dairy stocks to be delisted from NSE, BSE on April 30

The Bourses said that Prabhat Dairy will be delisted from Bombay Stock Exchanges (BSE) and National Stock Exchanges (NSE)  on April 30, while trading in its equity shares will be discontinued from April 23.

Under the capital market regulator SEBI norms, a company must make the final application to the stock exchanges for delisting within one year of passing the special resolution.

The delisting comes after the company complied with the formalities for voluntary delisting of equity shares. Further, exit option will be kept open by the promoter/ acquirer of the company -- Sarangdhar Ramchandra Nirmal, Vivek Sarangdhar Nirmal, Madhyam Farming Solutions Pvt Ltd and Nirmal Family Trust -- for the remaining public shareholders for at least one year from the date of delisting at the rate of Rs 101 per equity share, BSE said.

In separate circulars on Friday, the exchanges said the company has complied with the formalities for voluntary delisting of equity shares. Accordingly, the trading in the equity shares of Prabhat Dairy Limited will be discontinued with effect from April 23, 2021. The scrip will be delisted from the exchange records from, April 30, 2021.

 

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