Sulzer to delist from stock exchanges

Sulzer India Ltd has said it will seek approval from its shareholders on November 8 for delisting the equity shares of the company from all the stock exchanges.

Pursuant to a delisting offer proposed to be made by Sulzer India's Switzerland-based parent company, Sulzer Ltd, an EGM (extraordinary general meeting) would be convened on November 8 to seek shareholders' nod for the delisting proposal.

Recently Sulzer India had said its parent company, which holds a 79.99 per cent equity stake in it, intended to pick up the remaining 20.01 per cent stake in the company through an offer in accordance with the guidelines of market regulator (Securities and Exchange Board of India).

The Pune-based Sulzer India manufactures mass transfer devices and high-pressure air and gas compressors, required for process industry and its Swiss parent company is an industrial engineering and manufacturing major.