What happens to the shares of delisted companies?

I read that NSE is delisting the following companies w.e.f from May 12, I wanted to know what happens to the shares of these companies and the impact on shareholders.

  1. Deccan Chronicle
  2. Coral Hub
  3. Evinix Accessories (currently known as Evinix Industries)
  4. Nuchem Ltd
  5. Spanco Ltd
  6. Parekh Platinum
  7. Pasupati Fabrics
  8. Pearl Engineering Polymers
  9. Polar Industries
  10. Vikash Metal & Power
  11. Taksheel Solutions.
  12. Koutons Retail
  13. Ankur Drugs and Pharma
  14. Ashco Niulab Industries
  15. Crew BOS Products
  16. Dhanus Technologies
    1. Teledata Technology Solutions
    1. Teledata Marine Solutions
    1. IOL Netcom

Nothing. You need to find a buyer in private markets. There are some operators who buy this from the retail investors usually at very high discounts to last traded value. Basically, for a retail investor - you are screwed unless it relists again.

Greedy attracts people go for Penny stocks which are operator driven.

If a stock is moving much without any fundamentals need to be doubted.

A company con delist for 2 reasons - Forced or voluntarily.

Forced delist - This is when the exchanges decides to delist the company, usually for non compliance. If you are holding shares of such companies, then you will have to write it off as bad investment.

Voluntarily delist - This is when the company itself decides to delist the shares from the exchange. This could be an outcome of corporate restructuring exercise. Under such a situation, the company has to offer a premium over and above the current market price of the shares. Usually, the premium shoots up to 30-40% or more.

Either ways, when delists, the shares are relinquished and loses all its economic value.

@Karhik: Its not true that it loses economic value. You cannot trade it at the exchange thats all.

True, I stand corrected. Here is an interesting article on the same topic - http://www.business-standard.com/article/pf/there-s-still-hope-if-you-are-holding-shares-of-a-delisted-company-115032500513_1.html