BF Investment zooms 20% as board to consider delisting plan on January 4

The promoters expressed their intention either individually or collectively, as the case may be, acquire all equity shares that are held by public shareholders.

Shares of BF Investment were locked in the 20 per cent upper circuit at Rs 350.10 on the BSE on Monday at 09:17 AM after the company said its board will meet on Wednesday, January 4, 2023 to consider a delisting proposal.

A combined around 46,000 shares had changed hands, and there were pending buy orders for 660,000 shares on the NSE and BSE. The stock had hit a 52-week high of Rs 371.65 on January 12, 2022.

The meeting of board of directors of the company to be held on 4 January 2023 to consider the proposal for voluntary delisting of the equity shares of the company, having the face value of Rs 5 per share, BF Investment in an exchange filing on December 30.

DGM Realties Private Limited, along with Ajinkya Investment and Trading Company and Sundaram Trading and Investment Private Limited, who are members of the promoter and promoter group of BF Investment, through Axis Capital, Manager to the Offer, made initial public announcement to initiate the process of and to express the intention of the promoters to either individually or collectively, as the case may be, acquire all equity shares that are held by public shareholders; and consequently voluntarily delist the equity shares from the stock exchanges. The company’s equity shares are presently listed on BSE Limited and National Stock Exchange of India Limited (NSE).

As on September 30, 2022, total promoters holding stood at 74.13 per cent. Individual shareholders held 13.07 per cent stake, followed by bodies corporate (4.79 per cent), LLP (4.39 per cent) and Krutadnya Management and Trading Services LLP (4.16 per cent), shareholding pattern data shows.