Denso India has received a letter from Denso Corporation, Japan, one of the Company’s promoters, informing the Company of its decision to voluntarily delist the Company’s Equity Shares from the stock exchanges on which they are presently listed, being the BSE Limited, Delhi Stock Exchange and Madras Stock Exchange in accordance with the Securities and Exchange Board of India Regulations, 2009 by making a delisting offer to the public shareholders to acquire upto 7,398,019 Equity Shares held by public shareholders in the Company representing 26.54% of the paid-up equity share capital of the Company.
The Promoter presently holds 13,362,091 Equity Shares in the Company, representing 47.93% of the paid-up equity share capital of the Company. Further, the Equity Shares of the Company are permitted to be traded by National Stock Exchange of India (NSE).
As per the notice received from the promoter, the objective of the Delisting Proposal is to increase ownership in the Company, which will provide the promoter with increased operational flexibility to support the Company’s business; and to provide an exit opportunity to the public shareholders of the Company, given the low liquidity in the Equity Shares of the Company.
Denso is a leading global supplier of advanced automotive technology, systems and components, for all the world's major automakers. With over 120,000 employees in more than 33 countries, their global turnover places them amongst some of the largest companies in the world.
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