Binani Industries Ltd will delist its flagship company Binani Cement Ltd from the bourses to consolidate its shareholding, the Braj Binani Group company said in a notification in The Financial Express newspaper today.
The floor price for the delisting has been set at 82 rupees a share. The company will invite offers for sale of shares between Feb 7 and Feb 11. It will determine the delisting price of the share from these offers.
Currently, Binani Industries owns 69.9% stake in Binani Cement.