Domestic handset manufacturer, Spice Mobility has announced that it plans to delist from the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The company has received approval from its Board of Directors for voluntary delisting of equity shares, and will now seek approval of member shareholders.
The proposal of voluntary delisting was put forth by its promoter, Smart ventures that holds 74.36 per cent stake in the company. The remaining stake is held by an independent non-promoter trust (20.72 per cent), retail shareholders (2.83 per cent) and corporate entities (1.44 per cent).
Since, the proposal of delisting was put to the board, the trading window used for dealing in the securities of the company, remained closed for the directors and designated employees of Spice Mobility from December 27, 2014 to January 03, 2015.
