Date:28/05/2005 URL: http://www.thehindubusinessline.com/2005/05/28/stories/2005052801631300.htm

Back SKF group reverse book building nets only 45% shares

Our Bureau

MUMBAI: Swedish multinational SKF Group plans to de-list the shares of its Indian subsidiary - SKF India - has not received good response with only 45 per cent of the shares being offered back by shareholders of the company.

The offer for de-listing opened on May 23 and closed today. According to data posted on BSE Web site, shareholders of SKF India bid for 1.11 crore shares compared to issue size of 2.44 crore shares.

Of the total shares bid, maximum number of bids (for over 75 lakh shares) was made at Rs 295 compared to minimum offer price of Rs 153.