Mumbai: Shares of IT firm Patni Computer Systems will stop trading on the National Stock Exchange (NSE) from May 21, pursuant to a voluntary delisting by the company.
The decision for these changes was announced by the India Index Services & Products Ltd, a joint venture of NSE and Crisil, which manages the various indices at the exchange.
"Securities of Patni Computer System Ltd will be suspended from trading on the NSE with effect from May 21 on account of voluntary delisting pursuant to Sebi (Delisting of equity shares) Regulations, 2009," the statement said.
In addition, the exchange has also decided to exclude Patni's scrip from CNX 200, S&P CNX 500 Index, CNX smallcap index and CNX IT index.
The exchange will include Britannia Industries, SE Investments, Jet Airways (India) and eClerx Services from CNX 200, S&P CNX 500 Index, CNX smallcap index and CNX IT index, it added.
Meanwhile, Arunsalam Jeyakumar today sold 9.90 lakh shares of Patni for Rs 513.44 apiece, valuing the deal to Rs 50.85 crore through an open market transaction.
Last week, BSE had announced to exclude Patni scrip from BSE 200, BSE 500 and BSE Mid cap indices with effect from May 14.
Last month, US-based iGate Corporation had said it will offer Rs 520 per share to shareholders of Patni to get its Indian arm delisted from stock exchanges.
In January, Patni had received shareholders' approval for delisting the company from the Indian bourses and the New York Stock Exchange.
First Published: Wednesday, May 16, 2012, 22:47