Reliance Capital shares will be delisted from the market soon. The news shocked the public. After the announcement, the company’s stock chart is not visible today. It shows No Chart Available. We will share details about Reliance Capital shares delisting in detail below. The company announced on Wednesday that it will delist from the market. There are a lot of questions going on in the minds of the investors, who brought their shares. Let us explore more about Reliance Capital shares delisting below.
Reliance Capital Shares Delisting from Exchanges
Reliance Capital Shares will delist from the share market. The company announces the shocking news on Wednesday. As per the sources, they plan to remove the company from the share market. It goes with their current plan. They requested the National Company Law Tribunal (NCLT) for the removal, which was accepted. Both NCLT and SEBI have permitted the company to delist from the market.
While, the shareholders have a question in their mind, whether they will get anything on liquidity. However, the company’s liquidity value is said to be NIL. Thus, no shareholder will get any money or payment on the delisting. The company’s acquisition process begins and they will cancel the value of all shares. The NCLT allows the company to cancel share value without compensation.
Hinduja Group will acquire the company. Apart from that, the company has a total assets of Rs, 12,142.14 Crore. Thus, in short, the company will go through all the legal formalities and it will delist from the share market. No share price or chart will be visible after Tuesday, 27 February 2024. It is not showing any chart for Wednesday yet. However, its share price still shows up to Rs. 11.90 per share. Its market cap shows to be Rs. 300.99 Crore.
Currently, the Reserve Bank Of India has filed a petition for a Corporate Insolvency Resolution Process (CIRP). After the process is completed, the company will be completely removed from the market. Thus, there are not many details about the company yet. The shareholders will not get any payment or offer or something else because the company’s liquidation value is NIL.
The company has a lot of amount on credit which it has to pay. Among these, around Rs. 38,500 Crore is said to be the amount pending. The company accepts that it has Rs. 26,087 Crore of the amount pending for creditors. The rest is yet unsure and has no evidence. We hope you get enough details about Reliance Capital Share delisting above. Stay tuned for more information on our website.