DFM Foods freezes at 20% upper circuit on promoter's delisting proposal

DFM Foods has outperformed the market by surging 47 per cent in a week, as compared to 1.5 per cent gain in the S&P BSE Sensex.

Shares of DFM Foods were locked in upper circuit of 20 per cent at Rs 304.30 on the BSE in Tuesday’s trade after the promoter’s proposed to delist equity shares of the company from the stock exchanges.

AI Global Investments (Cyprus) PCC Limited and AI Darwin (Cayman) Limited expressed their intention to acquire all the equity shares that are held by public shareholders, either individually or collectively, as the case may be; and consequently voluntarily delist the equity shares from the stock exchanges i.e., BSE and National Stock Exchange of India (NSE). JM Financial has been appointed as the