OTIS cancels all equity shares held by non-promoters

02 August 2024

OTIS has announced the cancellation of 2,08,403 equity shares held by non-promoters at a price of INR 4,311.6 per share. This action offers an exit opportunity for non-promoter shareholders, who have lacked a trading platform since the company's delisting in 2003. The cancellation excludes promoter-held shares and requires Tribunal approval, with tax implications to be considered.