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JAL shares delist from BSE and NSE on Thursday: what 6 lakh holders face
JAL shares exit BSE and NSE on Thursday, leaving 600,000 retail holders without a liquid market. Here is what happens after the delisting takes effect.
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JAL shares will be delisted from the BSE and the National Stock Exchange on Thursday, according to exchange notices. The company has roughly 600,000 shareholders.
Once delisting takes effect, the stock loses its trading platform on both exchanges. Shareholders who have not sold before Thursday's close will hold illiquid shares. They can no longer place orders through their brokers on the regular exchange order book.
Forced delisting typically means the company did not comply with listing rules. The exit route for shareholders in such cases is limited. If the company does not offer a buyback or a fair price mechanism, holders may have to approach a tribunal or wait for a potential revival. The Securities and Exchange Board of India mandates that companies facing delisting must provide an exit opportunity to public shareholders at a fair value determined by an independent valuer. That process can take months.