Market Updates

The BOC Group Intends to Delist Linde India

November, 2018

The BOC Group who is the promoter of Linde India has offered to take full ownership of the firm and delist the firm from the country, owing to the merger between Linde AG and Praxair. In the merger Linde AG lost its control and voting rights to Linde Plc. The BOC Group is part of Linde Group and owns 75% of Linde Group.

As per Linde India the whole delisting offer is to attain ownership of full equity shares of the firm. The ownership will provide the BOC Group with flexibility to support business and also the financing feeds. As per the letter written by the BOC Group says that owing to SEBI regulations, 25% of the equity share capital has to be bought by a public shareholder. The BOC Group which already has can take these equity shares and have as much as 100% equity share.

As per the letter the BOC Group will have to divest the excessive equity shareholders in the secondary market within 12 months. Brackfield who is the director of the BOC Group says the delisting proposal of Linde India is the efficient and effective way to comply with the regulations.

ICICI securities has already been appointed by the Linde India board to carry out the process.

About BOC Group - BOC is a British based firm that manufactures industrial gases. The BOC Group operates as a subsidiary of Linde UK. The firm serves various industries such as, healthcare industry, semiconductor industry and others.

— Vasundhra Singh,
Assistant Research Executive,
Infoholic Research