India's TTK Healthcare drops after board approves delisting proposal at discount

TTK Healthcare

20/04/2023 09:36

** Shares of Woodward's gripe water maker TTK Healthcare Ltd
 TTKH.NS  fall as much as 4.4% to 1,251 rupees, lowest since
April 5
    ** Co says board approved delisting proposal from its
promoters
    ** Floor price of delisting offer is 1051.31 rupees, a 19.7%
discount to last close
    ** Co says delisting is in interest of shareholders
    ** Board to seek shareholders' nod on the proposal
    ** Stock falls most since Jan. 27 before cutting some losses
to trade down 1.5% by 2:01 pm IST
    ** Nearly 265,000 shares traded as of 2:02 pm IST, 3.8X the
30-day moving average
    ** Stock has risen more than four-fold since listing in
2010, and is up 30.1% this year up to of last close

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com;))