DFM Foods 'craxs' it!

DFM Foods is engaged in manufacturing, selling and marketing of packaged snack foods under the brand name, CRAX.

The stock is in the news today after it announced that its delisting offer is deemed successful by Advent International, which already held a 73.70% stake in the company through its subsidiary. With this, it now holds 96.18%.

The final price was set at Rs 467/share. The tendering window was opened on December 13 and ended on January 5.

Advent got 10.61 million equity shares through 1779 successful bids at counter offer price of Rs 467 a share.

Advent is the one which in Aug’22 had announced a reverse book-building offer to delist DFM Foods, setting the floor price at Rs.263.80.

The stock today rose 2% at Rs.461.50, while its 52-week does not stand too far at Rs.475.