Srinivasa Hatcheries’ promoters have come up with a proposal to voluntarily de-list the company. Pursuant to a Board of Directors meeting, the company received letters from the promoter and promoter group of the company, currently holding 75% of the paid-up capital, with a proposal to voluntarily delist the equity shares of the company from BSE in accordance with the SEBI regulations.
The promoter and promoter group, C Jagapati Rao, C.Suresh Rayudu, C.Jahnavi, Srinivasa Farms Private, Jagapathi Investments among others, have made an offer of floor price of Rs 110 at which they intend to buy the equity shares from the public shareholders which is 14% higher than the price of Rs 96.48 determined as per SEBI guidelines. The promoter and promoter group intends to obtain full ownership of the company to support company's business and strategic needs with increased operational flexibility and also to provide an exit opportunity to the public shareholders.
Srinivasa Hatcheries is engaged in the breeding of layers and broilers, rearing of commercial broilers, and trading in poultry and poultry related products.