Micro-cap stock below Rs 100 to stop trading from tomorrow; residual shareholders to get Rs 65 per share, check if you own any!

Faze Three Autofab Delisted: What Happens Next for Shareholders?

Faze Three Autofab, a textile processing company, will not trade from Tuesday onwards. The company received approval for delisting from BSE on October 31, 2023. According to the official notice, trading of the company's shares will be discontinued from November 7, 2023, and the delisting will take effect on November 15, 2023.

Residual shareholders can tender their equity shares to the Promoter/Acquirer for Rs 65 per share for one year, starting from the BSE Delisting Date on November 15, 2023, until November 14, 2024. A separate letter of offer, along with an application form, will be dispatched to the Residual Shareholders.

The stock has been listed on the BSE exchange for 13 years since its listing in November 2010. On the last day of trading, the share of Faze Three Autofab closed at Rs. 93.50, gaining 1.63 per cent. The stock's performance shows a mixed bag of results. On one hand, it has outperformed the market in the long term, with a 5-year return of 303.89 per cent and a maximum return of 274.00 per cent. On the other hand, the stock has underperformed the market in the short term, with a 1-year return of -12.00 per cent and a 3-year return of 67.56 per cent. The company has reduced its debt, and its promoter holding has increased by 16.0 per cent over the last quarter.

Residual shareholders of Faze Three Autofab Limited will receive monthly payments from the Promoter within 10 working days from the end of the relevant calendar month in which their Exit Application Form has been received.

Disclaimer: This article is for informational purposes only and is not investment advice.