Voluntary Delisting From all RSE including RSE with NTT by small company

1. Paid-up share capital upto 10 crore

2. Net worth upto 25 crore
3. Shares traded during 12 months preceding date of board meeting for approval of
proposed delisting is less than 10% of total no.of shares of the co
4. Co not suspended for non-compliance by any RSE with NTT in preceding one year

Exit option - Exit price determined by merchant banker – exemption from RBB
process
Legal requirement - Shareholder holding 90% or more give consent

 Convene a board meeting - Approval of BOD

 Approval of shareholder through SR - The special resolution shall be acted upon
only if the votes cast by the public shareholders in favour of the proposal are at
least two times the number of votes cast by the public shareholders against it.
 Appoint Merchant Banker
 decide exit price in consultation with merchant banker
 Application for In-principle approval of RSX
 In-principle approval by RSX
 Public Notice - The company shall give a public notice of the proposed delisting in
at least one English national daily with wide circulation, one Hindi national daily
with wide circulation and one regional language newspaper of the region where the
concerned recognized stock exchanges are located
 Letter to public shareholder informing them of proposed delisting, exit price and
seeking consent for the proposal for delisting
 Public shareholder holding 90% or more give consent to proposal in writing [The
process of inviting the positive consent and finalisation of the proposal for delisting
of shares to be made within 75 working days of dispatching the Letter to all the
shareholders]
 Payment to shareholder - The promoters shall make the payment in cash to the
public shareholders who have tendered their shares within 15 working days from
the date of expiry of 75 working days as mentioned above
 Final application to RSE for delisting
 Delisting order