From ₹318 to ₹4,311.6: @OtisElevatorCo Gives Shareholders a 14X Exit!
A company that canceled 208,403 equity shares of its non-promoter shareholders and, after nearly 21 years, has given them an opportunity to exit—with a 14 times return. We're talking about OTIS!
In fact, when OTIS shares were delisted in 2003, the price was approximately ₹318. Now, 21 years later, OTIS has offered non-promoter shareholders an exit at ₹4,311.6 per share, which is almost 14 times the last traded price of ₹318. This is an excellent exit for investors!
But how will all this happen? Well, it will only happen after the tribunal's approval, and there could also be some tax implications.
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About Otis Elevator India:
Otis Elevator Company India Ltd. ("Otis Elevator") manufactures, installs, and services lifts and escalators. It offers products like low-rise lifts (up to 6 stops), mid-size lifts (6 to 15 stops), high-rise lifts (16+ stops), escalators and moving walks, and dispatching. The company generates revenue from three major business segments - 1) new equipment sales, 2) service, and 3) modernization.
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