Haryana Financial Corporation Announces Voluntary Delisting Plan

Exit price set at Rs 9.55 per share for remaining public shareholders.
Public shareholders hold only 0.64% of the company's equity capital.

Reader Takeaway: The company is effectively winding down its listing status; shareholders can exit at the fixed price.

What just happened

Haryana Financial Corporation (HFC) has formally initiated the process to voluntarily delist its shares from the Bombay Stock Exchange (BSE). The board has finalized an exit price of Rs 9.55 per share. This price was determined according to SEBI's (Delisting of Equity Shares) Regulations, 2021. The proposal requires a special resolution, where votes in favor must be at least twice those cast against the motion by public shareholders.

Why this matters

HFC has remained inactive in its core lending business since May 2010 and holds no outstanding debt. The shares are rarely traded, with liquidity records showing only 0.004% of shares changing hands over the past 12 months. Management believes the listing no longer provides any tangible benefit to the company or its investors.

The process and timeline

The voting window is open from August 28, 2026, to September 26, 2026. Eligible shareholders can vote via remote e-voting or physical postal ballot. Results are expected by September 29, 2026. Mr. Girish Madan of Girish Madan & Associates has been appointed as the scrutinizer to oversee the process. If both voting modes are used by a shareholder, the e-voting record will be considered final.

Ownership context

The State Government of Haryana and the promoter group currently control 99.36% of the company's paid-up capital. The remaining 0.64% rests with public shareholders. This delisting plan aligns with the entity's current status as a non-operating financial firm.