Delisting Offer Fails for Nitin Castings Limited; Shares Remain Listed on BSE
The voluntary delisting offer for Nitin Castings Limited (NCL) has failed, following the conclusion of the Reverse Book Building Process conducted through the Stock Exchange Mechanism by BSE Limited. The Acquirers—comprising Mr. Nirmal B. Kedia (Acquirer-1), Mr. Nitin S. Kedia (Acquirer-2), and M/s. Citrus Castings Private Limited (Acquirer-3)—announced that they do not accept the Discovered Price, leading to the failure of the Delisting Offer.The offer was launched by the Acquirers seeking to acquire up to 14,70,894 issued and paid-up equity shares of face value Rs. 5/- each, representing 28.61% of the Company's issued capital. The public shareholders were...