New Delhi: Shareholders of two listed companies of debt-ridden Videocon group will receive “nil” money at the time of delisting as the liquidation values of the two firms are not even sufficient to cover outstanding debt. Videocon Industries Ltd and Values Industries Ltd will be delisted as part of the resolution plan approved for the bankrupt-Videocon group.
There will be no offers to any shareholders of the two companies at the time of delisting of their shares, the firms said in a public notice on Friday.
Under Sebi norms, a company that wants to delist from the bourses has to make an offer to existing shareholders, including public shareholders.
