Texmaco Infra: Adventz Finance proposes ₹58/share as delisting offer
March 05, 2021
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Saroj Poddar-owned Texmaco Infrastructure & Holdings Ltd is considering delisting from the bourses. A part of the Adventz Group, the company has already got Board approval for “voluntary delisting”. Shareholder approvals and other clearances will be sought soon.
One of the promoter firms of Texmaco Infrastructure, Adventz Finance has expressed willingness to buy out public shares and has proposed an ‘indicative offer price’ of ₹58 per equity share.
“Adventz Finance had informed the willingness of the promoter/ promoter group to accept equity shares tendered in the delisting offer at a price of ₹58 per equity share (Indicative Offer Price)….. The indicative offer price represents a premium of 27.87 per cent over the floor price,” the company said in a notice to the bourses. The floor price was determined at ₹45.36 per equity share.