Elpro International Ltd Forms Committee of Independent Directors Ahead of Proposed Delisting Offer
Elpro International Limited has constituted a Committee of Independent Directors (IDC) to provide reasoned recommendations concerning the proposed voluntary delisting of its equity shares. The decision was made by the company's Board of Directors, in connection with the planned Delisting Offer.The IDC comprises experienced directors who are tasked with reviewing and offering counsel on the Delisting Offer.
Committee Members Announced
The members appointed to the Committee of Independent Directors include:| Name of Independent Director | Designation |
|---|---|
| Mr. Naresh Agarwal | Chairman |
| Mr. K. R. Anil Kumar | Member |
| Mrs. Shruti Mimani | Member |
As part of regulatory obligations, Elpro International Limited is required to publish the recommendations of the IDC, along with details regarding the voting pattern. This information must be made public at least two working days before the commencement of the tendering period.
The company will also publish these materials in the same newspapers where the Detailed Public Announcement for the Delisting Offer will be issued. A copy of the IDC's recommendations is also to be sent to BSE Limited and the Manager appointed for the Delisting Offer, Motilal Oswal Investment Advisors Limited.
ELPROINTL Stock Price Movement
Elpro International Limited saw shares edged higher on Friday, successfully closing at ₹176.52 after rallying by 0.85%. The stock achieved a strong close within its trading band of ₹174.5 to ₹177.2, coming extremely close to hitting its annual high mark and finishing the session with 74,371 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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