D & A Financial Services (P) Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulation 3(1) and Regulation 4 read with Regulation 13(1), 14 and Regulation ....
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Antariksh Industries Ltd's manager to the offer, D & A Financial Services (P) Ltd, has filed a Public Announcement with BSE under SEBI Delisting Regulations (Reg. 3(1), 4, 13(1), and 14). This is the initial formal step in a voluntary delisting process, where the promoter(s) express their intention to delist the company's shares from the stock exchange. The floor price and reverse book-building process details are typically disclosed in the detailed public announcement that follows. Shareholders will get an exit opportunity at a price determined through the bidding process.
For shareholders, this means the company intends to buy back its shares from public investors and exit the stock exchange. Short-term stock price may see volatility around the delisting price discovery. Investors should watch for the detailed announcement containing the floor price and timeline to decide whether to tender their shares.