Ricoh India delisting floor price fixed at Rs 58.01

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 Ricoh India delisting floor price fixed at Rs 58.01
Ricoh India: Quotes, News
BSE 272.00BSE Quote13.05 (4.80%)
Ricoh India has said in a statement to the Bombay Stock Exchange (BSE) that the floor price for delisting of the company's shares has been fixed at Rs 58.01.

"With reference to the earlier announcement dated November 08, 2013 and November 11, 2013, about the matter of Voluntary Delisting of Shares of Ricoh India Limited from the Bombay Stock Exchange Limited, Ricoh India Ltd has now informed BSE that Ricoh India Ltd
on November 18, 2013 have received a letter dated November 18, 2013 from Ricoh Asia Pacific Pte Ltd. (a member of the promoter and promoter group) of Ricoh India Limited informing the Company about the Floor Price in relation to the Delisting Proposal.

The Floor Price as determined in terms of Regulation 15(2)(a) of the Delisting Regulations has been fixed at Rs. 58.01/- per Equity Shar," the company stated in a release to the BSE.

Ricoh India had said earlier that one of the main objectives of the delisting is to obtain full ownership, which will provide the promoter group with increased operational flexibility to support the company's business and to provide an exit opportunity to the public shareholders.

The shares of Ricoh India were last trading at Rs 104 on the Bombay Stock Exchange.

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