New Delhi: The exit price for the delisting of Reliance MediaWorks Ltd has been fixed at 61 per share at a premium of 25.39 per cent over the floor price.

In a filing to the BSE, promoters of Reliance MediaWorks—Reliance Land Pvt. Ltd and Reliance Capital Ltd—said the public shareholders of the company were invited to submit bids pursuant to a reverse book-building process (RBP) and arrived at the exit price.

“The final price determined through RBP for accepting the equity shares successfully tendered in the delisting offer is 61 per equity share of 5 each, which is at a premium of 25.39 per cent over the floor price of 48.65," the filing said.

The acquirers shall acquire all equity shares validly tendered at or below the exit price and the shareholders of Reliance MediaWorks who have validly tendered shares will be paid consideration at the exit price, it added.

Reliance MediaWorks’ board had on 20 January approved the delisting offer which was later cleared by the shareholders.

In March, the two promoters companies of the firm had offered to buy back shares worth at least 251 crore from public shareholders as part of plans to delist it.

Shares of Reliance MediaWorks were trading at 59.05 per scrip on the BSE in the afternoon trade, up 1.72% from the previous close.

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