Modern India gets nod for delisting

The board of Modern India on Monday approved a delisting proposal of its promoters. The approval is subject to shareholders’ nod, the company said in a notice to the stock exchanges. Earlier, the promoters of the company expressed their intention to acquire 93.86 lakh shares, representing 25 per cent of the equity paid-up share capital, and consequently voluntarily delist the shares from BSE, where the shares are listed. Shares of Modern India slipped 4 per cent to ₹51.95.