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Ricoh India has informed the BSE that its board has received a letter from its foreign promoter proposing to delist the company from the BSE.
The Richo India stock closed at Rs 59.6, up 1.45 per cent over the previous day's close on the BSE.
Ricoh Asia Pacific Pte Ltd — a wholly-owned subsidiary of Ricoh Company Ltd, the controlling shareholder and promoter of Ricoh India Ltd — on Friday made a voluntary delisting offer of shares from the BSE.
The board of directors will meet on November 11 to consider the proposal.
Currently the promoters hold 73.60 per cent stake in the company, while retail investors control 20.83 per cent. Institutional presence is almost negligible.
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