Outcome of reverse book building process
Awaiting price reaction for this filing.
CES Limited's voluntary delisting offer has been successfully concluded through the reverse book building process, which ran from July 24 to July 30, 2025. The discovered price came in at Rs 92.36 per share, exactly matching the floor price set by promoters Mr. Venkateswara Rao Davarapalli and Mrs. Sreevani Kancharla. The promoters received bids for 59,19,788 equity shares across 9 successful bids at Rs 92.36. Since no bids came in above the floor price, all successful bidders will tender their shares at the uniform price of Rs 92.36. Post-offer, promoter and promoter group shareholding has crossed the 90% threshold required for delisting, standing at 91.10% of total issued equity (excluding certain shares per Regulation 21(a)), up from the pre-delisting holding of 74.84%.
The delisting has been deemed successful under SEBI regulations, meaning CES Ltd shares will be delisted from BSE. Public shareholders who bid successfully will receive Rs 92.36 per share. Remaining public shareholders who did not tender will need to follow the post-offer buyback process under SEBI rules. Shareholders holding shares above Rs 92.36 have no obligation to tender but may want to evaluate their exit options.