Description

BSE announces the outcome of the reverse book building process conducted under Regulation 17(3) of the Delisting Regulations for Manphool Exports Limited.

Summary

BSE has announced the outcome of the reverse book building process for the voluntary delisting of Manphool Exports Limited conducted in accordance with Regulation 17(3) of the SEBI (Delisting of Equity Shares) Regulations, 2021.

Key Points

  • Reverse book building process completed for Manphool Exports Limited
  • Process conducted under Regulation 17(3) of SEBI Delisting Regulations
  • Outcome determines discovered price and acceptance status for delisting
  • Information critical for shareholders participating in the delisting offer

Regulatory Changes

No regulatory changes. This circular communicates the outcome of a process conducted under existing SEBI (Delisting of Equity Shares) Regulations, 2021.

Compliance Requirements

  • Acquirer must comply with post-bidding requirements as per delisting regulations
  • Settlement of accepted shares to be completed as per prescribed timelines
  • Company must follow through with delisting process if minimum threshold is met
  • Shareholders who tendered shares will be informed about acceptance and payment

Important Dates

  • Circular Date: November 6, 2025
  • Specific dates for reverse book building period, discovered price announcement, and payment schedule would be detailed in the full circular

Impact Assessment

For Shareholders:

  • Shareholders who participated in the reverse book building will receive outcome notification
  • Accepted shareholders will receive payment at the discovered price
  • Remaining shareholders’ status depends on whether delisting threshold was achieved

For the Company:

  • If successful, Manphool Exports Limited will proceed with delisting from BSE
  • Company’s equity shares will cease trading on the exchange
  • Transition to unlisted public company status

Market Impact:

  • Limited broader market impact as this affects only Manphool Exports Limited shareholders
  • Sets precedent for pricing in similar delisting transactions

Impact Justification

Delisting outcome significantly impacts shareholders of Manphool Exports Limited as it determines exit price and success of delisting process