In 2017, M/s. Chola Business Services Limited, a member of the promoter and promoter group of the company, expressed interest to the Board of Directors in acquiring up to 61,450 equity shares held by public shareholders, constituting 25.18% of the total equity share capital, through a voluntary delisting offer as per Chapter VII of Delisting Regulations, aiming to delist equity shares from BSE. The acquirer, in collaboration with the Merchant Banker to Offer, proposed an exit price of Rs.72 per equity share with a face value of Rs.10 in accordance with regulation 27(3) of Delisting Regulations.
Consequently, the company obtained the necessary approval, as stipulated by regulation 8(l)(b) of SEBI (Delisting of Equity Shares) Regulations, 2009, via a special resolution passed through a postal ballot. Furthermore, an application has been submitted to BSE Ltd for the voluntary delisting of the company's shares, which is currently pending.