Letter of offer enclosed
Awaiting price reaction for this filing.
CES Limited's promoters, Venkateswara Rao Davarapalli and Sreevani Kancharla, have formally dispatched the Letter of Offer for a voluntary delisting of equity shares from BSE through a reverse book-building process. The floor price has been set at Rs. 92.36 per share, with the bidding window running from 24 July to 30 July 2025. Promoters currently hold 74.84% of the company (2.72 crore shares), while public shareholders hold the remaining 25.16% (91.58 lakh shares) being targeted. Shareholders had already approved the delisting via postal ballot in February 2025, and BSE granted in-principle approval on 15 July 2025. The stock has had no trading on BSE in the past 6 months, making it infrequently traded; FY25 revenue was Rs. 522 crore with a profit after tax of Rs. 26.15 crore and EPS of Rs. 8.11.
Public shareholders can tender their shares at the floor price of Rs. 92.36 or place higher bids during the reverse book-building window to seek a better exit. If the delisting succeeds, the stock will be removed from BSE, and shareholders who do not tender will become residual minority stakeholders in an unlisted, promoter-controlled company with limited liquidity.