Nitin Castings promoters launch voluntary delisting offer; floor price fixed at Rs 273.36 per share

The promoters of Nitin Castings Ltd. have launched a voluntary delisting offer for the company's equity shares from the BSE.

What Happened and Why It Matters

The promoters of Nitin Castings Limited, including Nirmal B. Kedia, Nitin S. Kedia, and Citrus Castings Private Limited, have issued a Letter of Offer to voluntarily delist the company's equity shares from the BSE.

The promoters plan to acquire up to 14,70,894 equity shares, representing 28.61% of the company's total paid-up equity share capital held by public shareholders.

The minimum offer price has been fixed at Rs 273.36 per share in accordance with the SEBI (Delisting of Equity Shares) Regulations, 2021.

The reverse book building process will be conducted from August 5, 2026 to August 11, 2026, allowing eligible public shareholders to tender their shares through the BSE acquisition window.

According to the company, the delisting aims to provide greater operational flexibility, reduce regulatory and listing compliance costs, and enable complete promoter ownership.

Business Impact and Strategic Relevance

• Delisting Proposal: Promoters intend to acquire the remaining 28.61% public shareholding and delist the company from the BSE.
• Offer Price: Minimum offer price is Rs 273.36 per equity share under SEBI's delisting regulations.
• Tendering Period: Reverse book building will remain open from August 5–11, 2026.
• Shareholder Consideration: Shareholders who do not participate or whose bids are not accepted may continue holding shares if the delisting is successful.

What to Watch Next

Investors will closely monitor the response from public shareholders during the reverse book building process. The success of the delisting depends on receiving sufficient shareholder acceptance, the final discovered price, and the necessary regulatory approvals.

About Nitin Castings Limited

Nitin Castings Limited manufactures and sells cast iron products for both domestic and international markets. The company serves industries such as engineering, construction, and other industrial applications.