Delisting offer begins for Cimmco

Shares of Cimmco will remain in focus this week, as the open offer from Titagarh Wagons to delist the shares begins on Friday. The latter has offered ₹15.50 a share to buy 25.08 per cent stake or 50.53 lakh shares in Cimmco. Despite the stock price ruling at ₹44 on the BSE, the committee of independent directors of Cimmco said the offer price is fair and reasonable. It remains to be seen how Cimmco’s shareholders respond given it is ruling higher than the offer price.