Textile small-cap company Mid-India Industries Ltd (MIIL) Thursday said the Ahmedabad Stock Exchange (ASE) has approved its appeal for delisting from the bourse.
According to the company’s filing to the Bombay Stock Exchange (BSE), the board of directors of the company at their meeting held Nov 14, 2014, inter alia have considered and approved voluntary delisting of equity shares at Ahmedabad Stock Exchange under Listing Agreement.
“Ahmedabad Stock Exchange Limited considered the application at their meeting Dec 22, 2014, and approved delisting of shares from the Ahmedabad Stock Exchange Limited w.e.f. Dec 23, 2014,” BSE said in a statement.
However, the company continues to remain listed on BSE.
MIIL has a market cap of Rs. 3.85 crores and operates in the textiles segment. For the quarter ended September 2014, the company has reported standalone sales of Rs. 8.46 crores, down by 1.53 percent from last quarter sales of Rs. 8.59 crore. The company had reported a net loss after tax of Rs. 11 lakhs in September quarter.