Alfa Laval set to de-list from Indian bourses

The board of Alfa Laval (India) Ltd will meet today to consider delisting from the stock exchanges after the company received a letter from its Swedish parent company from Alfa Laval Corporate AB dated 16 September 2011 to this effect.

Alfa Laval informed the stock exchanges that the parent company had decided to seek voluntary delisting from the stock exchanges on which it is presently listed - the Bombay Stock Exchange and the National Stock Exchange.

This will be done in accordance with the Securities and Exchange Board of India (delisting of equity shares) regulations, 2009, by making a delisting offer to the public shareholders of the company to acquire up to 2,040,202 shares, constituting 11.23 per cent of the paid-up equity share capital of the company.

The Swedish promoter of the company currently holds 16,120,281 shares in the company, constituting 88.77 per cent of the company's paid-up equity share capital, it said.

The promoter has requested the board to consider and approve the delisting proposal and seek the approval of the shareholders for the same.