Mumbai, Aug. 26: The promoter of GE Capital Transportation Financial Services has accepted the price of Rs 110 per share to buy back 45.94 lakh shares from the public, a move that will help in delisting the firm from the bourses.

GE Capital (Mauritius) Investment has accepted the discovered price of Rs 110 per share, in accordance with the delisting guidelines, and will acquire all equity shares at or the exit price, GE Capital said in a filing to the BSE.

The delisting offer with a floor price of Rs 66.80 per equity share opened on August 18 and closed on August 21.

The discovered price or the price at which maximum number of equity shares were tendered, as established by the reverse book building process, was Rs 110, for investors holding equity shares in a dematerialised form.

The Reserve Bank of India has granted its no-objection to GE Capital (Mauritius) investment to acquire up to 45,94,761 shares under the delisting offer. The final exit price of Rs 110 per share will represent a total outgo of over Rs 50.54 crore.

After the acceptance of equity shares tendered in the delisting offer at or below the exit price and the completion of acquisition, the public shareholding of GE Capital Transportation Financial Services will fall below 25 per cent, the minimum public shareholding limit. Consequently, GE Capital (Mauritius) will initiate necessary steps to delist the equity shares of the company from the BSE.

The final settlement date with the BSE for the dematerialised equity shares accepted by the acquirer is August 26, while shares from investors holding them in a physical form will be accepted till September 10.