Delisting Offer Fails for Nitin Castings Limited; Shares Remain Listed on BSE

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 invited to submit bids for these "Offer Shares" during the Reverse Book Building Process (RBB), which ran from Wednesday, August 05, 2026, to Tuesday, August 11, 2026.

Outcome of Delisting Offer​

The total number of Offer Shares validly tendered by Public Shareholders was 9,08,978 Equity Shares through 181 bids. These successful bids were received across the price range ranging from Rs. 273.36 (Rupees Two Hundred Seventy-Three and Thirty-Six Paise only) per Equity Share to Rs. 1,299.00 (One Thousand Two Hundred and Ninety Nine Only).

The Discovered Price, determined under Regulation 20(1) read with Schedule II of the SEBI Delisting Regulations, was set at Rs. 300/- (Rupees Three Hundred only) per Equity Share. This price calculation was based on 7,53,984 Equity Shares and included nine successful bids within the specified price range (Rs. 273.36 to Rs. 300/-). The Floor Price for the offer was set at Rs. 273.36 per Equity Share.

The Post Offer Public Announcement issued by the Manager to the Delisting Offer confirmed that since the Acquirers did not accept the Discovered Price, the Delisting Offer is deemed to have failed. Consequently, NCL will not be acquiring any tendered equity shares, and its Equity Shares will continue to remain listed on BSE. No final application for delisting will be made with BSE.

Further updates include:

• The lien marked on the offered or tendered Equity Shares will be released by the Clearing Corporation on August 13, 2026.
• Acquirers are restricted from making another delisting offer until the expiry of six months from the date of this Post Offer PA.

The Public Shareholders who had concerns regarding the calculation of the ninety percent threshold or the determination of the Discovered Price have noted that their representations and complaints have become infructuous due to the failure of the Delisting Offer. The details of the Company Secretary and Compliance Officer are available for public queries concerning the Delisting Offer, as provided by the Manager and Registrar.

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Anglo-French Drugs & Industries Limited Reports Q2 2026 Unaudited Financial Results​

Anglo-French Drugs & Industries Limited has announced its unaudited financial results for the quarter ended June 30, 2026. The company's results have been reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on August 11, 2026.

The company operates in two reportable segments: Pharmaceutical Division and Investment division.

Financial Highlights (Rs. in Lakhs)​

The following table presents key financial metrics for the quarter ended June 30, 2026, alongside corresponding results from previous periods.


The company has also indicated that it possesses two reportable segments, which are the Pharmaceutical Division and the Investment division.

Stock Price Movement​

As of 11:42 AM, Nitin Castings Ltd shares are ticking down by 4.99%, trading at ₹350.55. The stock remains completely locked and is currently flat throughout the session, with the intraday high and low both registered at ₹350.55.