US-listed iGATE, which has recently acquired Phaneesh Murthy-led Patni Computers, has said that it has planned to de-list the company.

iGATE announced that it will de-list the company and fix a floor price of Rs 503.5 a share. Analysts say the de-listing of the shares of favorable for small investors who can benefit from the delisting price, which is expected to be close to previous open offer price of about Rs. 500.

The shares of the Patni Computers rose as much as 18 per cent in early trade on the domestic stock exchange after the news of delisting appeared. Patni will be de-listed from the domestic stock exchanges by mid-2012 to iGATE will have full ownership of the firm.

The American Depository Receipts (ADRs) of Patni will also be de-listed from the New York Stock Exchange. iGate said in a statement that it will begging the process of de-listing through its subsidiaries, Asia iGATE Solutions and iGATE Global Solutions Ltd.

The shares were trading at Rs. 459 on the Bombay Stock Exchange. On the National Stock Exchange, the shares of the company rose 11.9 per cent to Rs. 432.40.