India Securities
BSE500204; CMP Rs 55
The Ruias have sold 11 per cent Equity of Vodafone to Piramal for over a $ 1 Bn and now seek to delist the holding company India Securities. Should we let them delist at Rs 54?
With reference to the earlier announcements dated July 01, 2011 and August 18, 2011, India Securities Ltd has now informed BSE that ETHL Communications Holdings Ltd., a wholly owned subsidiary of the Company, has completed the sale of balance stake i.e. 5.485% in the equity capital of Vodafone India Limited (formerly Vodafone Essar Limited) to Piramal Healthcare Limited, in terms of agreement entered with Vodafone Group.
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