XYZ Ltd., as on date, has two sets of shareholders, namely, promoters (set 'A') and others (set 'C'). It proposes to make a preferential allotment to a new set of investors (set 'B'). The shareholding pattern before and

XYZ Ltd., as on date, has two sets of shareholders, namely, promoters (set 'A') and others (set 'C'). It proposes to make a preferential allotment to a new set of investors (set 'B'). The shareholding pattern before and after the preferential allotment would be as under: Investors sets % of Shareholding Pre-preferential Allotment Post-preferential Allotment A 50 25 B 0 50 C 50 25 In the light of the relevant provisions, discuss the following : Whether XYZ Ltd. will be delisted if as a result of open offer, the holdings of 'B' exceed maximum permissible non-public shareholding.