Infinite Computer Solutions to consider delisting; locked in upper circuit

Infinite Computer Solutions was locked in 20 per cent upper circuit on Tuesday after the company announced that it is going to consider a proposal to de-list the company.

The company's board meeting will be held later this week on Friday, January 12, 2018 to consider a proposal of voluntary delisting made by the promoter and promoter group companies. The promoter and promoter group companies currently hold 74.98 per cent stake or 2,50,11,036 equity shares in the company and intends to acquire 83,44,478 equity shares of the company held by public shareholders representing 25.02 per cent of the paid up equity capital of the company.

Infinite Computer provides custom IT-based business process solutions, next-gen mobility solutions and product engineering services, specializing in the Healthcare, Banking & Finance, Telecommunications & Technology and Media & Publishing industries.

On Tuesday, Infinite Computer Solutions closed at Rs. 333.35 per share, up Rs. 55.55 or 20 per cent on NSE. The scrip opened at Rs. 275.00 and created a new 52-week high of Rs. 333.35 per share on NSE.