DXC Technology India Private Limited ("Acquirer"), had earlier announced voluntary delisting offer to the public shareholders of the Company in accordance with the applicable provisions of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 ("Delisting Regulations") to acquire 2,78,50,929 equity shares, representing 25% of the paid up share capital of the Company held by the public shareholders of the Company and consequently delist the equity shares of the Company from the BSE Limited and the National Stock Exchange of India Limited ("Delisting Proposal"). The Delisting Proposal was approved by the Board of Directors of the Company on August 28, 2020 and by the shareholders of the Company on October 4, 2020.
The Company has further received a communication from the Acquirer vide its letter dated October 23, 2020 (a copy of which is enclosed) stating that the Acquirer has approved an indicative price of Rs. 56.50 per share ("Indicative Price") being the price at which the Acquirer is willing to accept the equity shares tendered in the Delisting Offer. Further, the aforesaid letter states that the Indicative Price should in no way be construed as a restriction on the public shareholders to tender the equity shares at price higher than the Indicative Price and that it may be noted that the Acquirer reserves the right to reject the final price discovered through the reverse book building process in terms of the Delisting Regulations if it is higher than the Indicative Price.
Shares of XCHANGING SOLUTIONS LTD. was last trading in BSE at Rs.88.25 as compared to the previous close of Rs. 89.4. The total number of shares traded during the day was 2417 in over 73 trades.
The stock hit an intraday high of Rs. 90.35 and intraday low of 88.25. The net turnover during the day was Rs. 216111.