Chemplast Sanmar announced on Monday that the promoter group (Sanmar Holdings along with Sanmar Group International) has fixed the exit price for the equity shares tendered by the public shareholders at Rs. 15 per equity share (of Re. 1 face value).
The bid opened on April 12 and closed on April 18. The company has stated that all public shareholders who did not or were not able to participate in the reverse book-building process (RBP) or who unsuccessfully tendered their equity shares in the RBP process would be able to offer their equity shares to the promoter group at the exit price during a period of one year starting from the date of delisting of the equity shares of the company from BSE, National Stock Exchanged and the Madras Stock Exchange.
A separate offer letter (the exit offer letter) in this regard would be sent to the remaining public shareholders, the company said in a notification to the stock exchanges.
Earlier, on March 26, Chemplast Sanmar informed the BSE that the company had received a letter from its promoter group, intimating the company that the floor price of the equity shares had been fixed at Rs. 4.51 per share.
The bid opened on April 12 and closed on April 18. On Monday (April 23), the shares closed at Rs. 7.64 on the Bombay Stock Exchange.
