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Xchanging Solutions has received shareholders approval for the proposed delisting. In a notification to the exchanges, the company said the resolution was passed by ‘requisite majority’.
Earlier, Computer Sciences Corporation had completed a mandatory open offer to acquire up to 25 per cent equity stake in Xchanging Solutions from the public shareholders. The open offer was triggered by an indirect acquisition of controlling stake in Xchanging Plc, the British parent of the Indian public-listed IT outsourcing company.
CSC had expressed its intention to launch an offer to voluntarily delist the company’s equity shares from the BSE and the NSE and had indicated a floor price of ₹39.23 a share for the delisting.
As of June 30, public shareholders held 2.78 crore shares. Of this, 16,460 small shareholders held 3.76 per cent stake.
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