Company Update

Hira Automobiles Ltd has decided to delist its shares from all stock exchanges following its promoter’s plan to acquire the entire remaining public shareholding of 4.28%. Despite obtaining in-principle approvals from multiple exchanges, the company did not receive the requisite shareholder consent to complete the delisting.

Recently, SEBI imposed a penalty of Rs. 14 lakh on the company for delayed quarterly compliance filings related to minimum public shareholding norms, which has been paid.

The company is currently seeking SEBI’s guidance to resolve compliance issues and facilitate promoter acquisition of public shares, impacting shareholder liquidity and ownership structure.