After the proposal of delisting was approved by majority of share holders,IT firm Patni computers has officially announced the fact in media.Soon the company will be delisted from Indian stock exchanges as well as New York Stock Exchange.Right now shares of company are trading in green at 465.55 that is 0.32 % up than tomorrow.
Why company is delisting : US based company iGATE had acquired Patni Computer System in 2011 and they want to delist it to be delisted.Now the company iGATE will be bringing their services along with Patni under the name of iGATE Patni,company had also scheduled its Earnings Conference Call on 25 th of January this year where the management will be discussing the performance of the company and will answer to the stakeholders questions.
How delisting will be done : It will be done via reverse book building process and iGATE has already stated the floor price 356.74 per share for it.
http://www.igatepatni.com/ will be the official website that will telecast the live webcast on 25 th jan.
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