Nirma plans delisting

Nirma plans delistingAccording to a proposal received from Karsanbhai K. Patel, Shantabcn K. Patel and Kulgam Holdings Private Limited, the promoters of Nirma, the company is planning to delist its shares from the Bombay Stock Exchange and National Stock Exchange of India Limited.

It is to be mentioned here that the decision on the same was finalized on the board meeting that held on the 9th of October. Under the decision taken by the company, the promoters of Nirma will acquire the equity shares held by public shareholders in the Company pursuant to and in accordance with the Securities and Exchange Board of India.

It may be noted here that the company has gone through a significant change in the business structure over the past years and as a result, the risk profile of the company and the return ratios have also seen a change over the past few years.

For the record, the company has moved into areas like linear alkyl benzene, soda ash, pharmaceuticals and others which is very different from the consumer products that the company was focusing on at the time it was listed.