Fairfield locked at 5% upper circuit on delisting news

Fairfield Atlas locked at 5 percent upper circuit on Wednesday as the board of directors approved delisting of company's shares from Bombay Stock Exchange.

Company's promoter TH Licensing had made proposal to purchase shares of company. TH Licensing Inc holds 83.91 percent stake in the company as of December 31, 2012.

The board also consented to seek the approval of the public shareholders for the delisting offer by way of postal ballot.

At 10:55 hours IST, shares were quoting at Rs 136.90. There were pending buy orders of 419,600 shares, with no sellers available.

In the previous trading session, the share closed up 4.99 percent at Rs 130.40.

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