Mumbai: The Nasdaq-listed software company iGate Corp's Indian unit Patni Computer Systems Ltd will delist from the National Stock Exchange (NSE) of India Ltd on May 21.
"Securities of Patni Computer Systems will be suspended from trading on National Stock Exchange w.e.f. May 21, 2012 on account of voluntary delisting pursuant to SEBI (Securities and Exchange Board of India) (Delisting of Equity Shares) Regulations, 2009," India Index Services & Products Ltd, a joint venture between NSE and CRISIL, said in a statement.
Patni Computer was last year acquired by iGate Corp and later renamed to iGate Patni.
Earlier, last week, the Bombay Stock Exchange had also announced to exclude Patni scrip from BSE 200, BSE 500 and BSE Mid cap indices with effect from May 14.
iGate Corp in April accepted the discovered price of Rs 520 per share for removing the company from the stock exchanges.
The company in January received shareholders' approval for delisting the company from the Indian stock exchanges and the New York Stock Exchange.
In 2011, iGATE had acquired the Mumbai-based Patni Computer for Rs 55.6 billion ($1.2 billion then). The deal was considered to be one of the largest acquisitions in the domestic information technology industry.
Shares of Patni Computer were trading at Rs 518.40, up 0.37%, on NSE today.
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