INEOS to delist, may set the trend for others in queue
Investors can tender their shares from July 16 to July 22.
Mumbai: INEOS Styrolution, a specialty chemical firm, could be the first company to be delisted from the Indian bourses in the past two-and-a-half years if its promoters and public investors agree on the price to be discovered through the reverse book building process scheduled later this month.
If INEOS succeeds in delisting its Indian arm, it will set a precedent for the other three proposals — Vedanta, Hexaware Technologies and Adani Power.
For existing investors, it is an opportunity to exit while for new investors there will not be any arbitrage left in the stock, said market participants. “Existing investors can tender at the current market price or slightly above as against the delisting offer price of 480. It’s not advisable for new investors to enter for delisting gains,” said Ambareesh Baliga, an independent analyst.
The UK-based promoter INEOS Styrolution APAC, which owns 75 per cent of stake in the Indian firm, has announced the voluntary delisting at Rs 480 per share. Investors can tender their shares from July 16 to July 22.
If INEOS succeeds in delisting its Indian arm, it will set a precedent for the other three proposals — Vedanta, Hexaware Technologies and Adani Power.
For existing investors, it is an opportunity to exit while for new investors there will not be any arbitrage left in the stock, said market participants. “Existing investors can tender at the current market price or slightly above as against the delisting offer price of 480. It’s not advisable for new investors to enter for delisting gains,” said Ambareesh Baliga, an independent analyst.
The UK-based promoter INEOS Styrolution APAC, which owns 75 per cent of stake in the Indian firm, has announced the voluntary delisting at Rs 480 per share. Investors can tender their shares from July 16 to July 22.