Lapping up shares of companies, which intend to delist, is one of the favourite trade on Dalal Street. If the delisting bid goes through, the trade can be very rewarding. However, an unsuccessful attempt can cause agony to investors.
Specialty chemicals firm INEOS Styrolution is the latest example of the latter. Its stock has almost halved since July 24, when the German parent decided to reject the delisting price discovered through the so-called reverse book building process (RBB). INEOS joins half a dozen other domestically listed companies that have seen stock prices tank after ...
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