Rs. 1,61,023 per share fixed as Floor Price for delisting offer of ELCID Investments Ltd

JM Financial Limited, manager to the offer, for and on behalf of certain members of the promoter and promoter group of the Company (as defined under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended) viz., Dipika Chemicals Private Limited (the "Acquirer") and Ms Dipika Amar Vakil ("PAC 1"), Mr Varun Amar Vakil ("PAC 2") and Amar Arvind Vakil HUF ("PAC 3"), persons acting in concert with the Acquirer (collectively "PACs"), announced that the floor price of the delisting offer is INR 1,61,023 (Indian Rupees One Lakh Sixty One Thousand and Twenty Three only) for equity share of the Company, is which is determined in accordance with Regulation 20(2) of the Delisting Regulations read with Regulation 8 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. In support of the aforesaid, the letter was accompanied by a certificate dated March 20, 2022 issued by NBT and Co, Chartered Accountants (FRN: 140489W), certifying the floor price.

The above offer letter will be placed before the board of directors of the Company at its meeting scheduled to be held on March 28, 2022.

Source : Equity Bulls

Keywords

ELCIDInvestments DelistingOffer FloorPrice