The development follows after the company, in which Ricoh Japan holds 73.6 percent, failed to report financial results for the last two quarters.
However, the suspension of trading hasn’t come as a surprise to the markets. They seemed to have factored in some bit of negativity already.
The company has been undergoing some turmoil of late. Recently, its stock was moved to ‘Z’ category and its top deck were asked to leave without pay.
However, as a respite the BSE did mention that if the company could comply with regulations by May 20, trading won’t be suspended.
The market cap of the company had fallen from the highs of Rs 4255 crore in July 2015 to Rs 1,408 crore in April 2016.
Individual shareholders will suffer the most.