Yesterday in the evening, Linde India announced that Bansi S. Mehta & Co., Chartered Accountants, has been appointed as an independent chartered accountant by SEBI for the computation of fair price of the equity shares of Linde India for the purposes of the Open Offer.
If one may recollect, in Jan’19, the parent group, BOC failed to go through with the delisting and this is not the first time that it had happened. The offer was rejected after the promoters felt that the discovered price came in three times its market cap.
The discovery price in the delisting process was at Rs.2025/share. So once again the promoters will try and this anticipation of a higher price has led to Linde India becoming the second top gainer on the BSE.
The stock price opened with a gain of 2.69% at Rs.485, going up 9% to Rs.515 and looks like the surge on expectations has only just begun!