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TTK Healthcare shares hit a 52-week high on BSE and NSE in early trading after the company announced a voluntary delisting plan on Wednesday.
The shares of the company, which closed at ₹1,258.80 apiece on NSE on Wednesday, touched a 52-week high of ₹1,474 per share in the intraday trade. On BSE, TTK Healthcare shares touched a lifetime high of ₹1,450 per share in early trade. The share closed at ₹1,256.70 apiece on Wednesday.
On Wednesday, TTK Healthcare said its promoters expressed their intention to acquire all the equity shares that are held by public shareholders and then go for voluntary delisting of the equity shares from the stock exchanges.
The company said the proposed delisting is in the interest of the public shareholders as it will provide them with an exit opportunity at a price determined in compliance with the Delisting Regulations.
As on December 2022, the promoters held a 74.56 per cent stake in TTK Healthcare while individual shareholding stood at 15.49 per cent.
TTK Healthcare said, post exiting the human-pharma business, it is left with a host of consumer product lines with single-digit margins and in a highly competitive environment as well as B-to-B and white-label businesses that require separate attention and significant cash outflow.
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