Sparsh BPO to delist from BSE; shares up 10 pc

Sparsh BPO to delist from BSE; shares up 10 pc


Mumbai: Sparsh BPO Services on Monday said its board has approved a proposal of the promoters to delist from the BSE by acquiring entire 25.06% holding from shareholders, a development that led to a 10% spurt in the stock.

The board, at a meeting held on 8 October, has approved the proposal of promoters -- Intelenet Global Services and SKR BPO Services -- to delist, Sparsh said in a filing to the Bombay Stock Exchange.

The promoters hold 1.21 crore equity shares in the company, the filing added.

As per June quarter shareholding available on the BSE, Intelenet Global Services held 51% and SKR BPO Services held 20% stake in Sparsh BPO Services.

Reacting to the development, the shares of Sparsh BPO Services soared 10% to hit a year-high level of 78.10.

Now the company has to seek shareholders nod to delist.

On 8 October, Sparsh BPO Services had informed the bourse that it has received a letter from the promoters, informing the company of their decision to seek voluntary delisting of the equity shares, it said.