Elpro International Announces Fixed Price Delisting Offer to Acquiring Full Ownership from Public Shareholders

Elpro International Announces Fixed Price Delisting Offer to Acquiring Full Ownership from Public Shareholders​

Elpro International Limited (EIL) has announced a detailed public offer aimed at acquiring all equity shares held by its public shareholders, with the ultimate goal of voluntary delisting from the Bombay Stock Exchange (BSE). The proposal involves the promoter group and key acquirers seeking consolidated control over the company.

The Delisting Offer aims to achieve full ownership of EIL by the Acquirers (IGE and Zenox Technology Services Private Limited) and the Persons Acting in Concert (PACs), which are part of the Target Company's promoter group. The offer is designed to provide public shareholders an opportunity to realize immediate value, particularly amid market volatility, while simultaneously reducing substantial compliance costs associated with continued listing.

The Acquirers proposed a Fixed Delisting Price for the Public Shareholders' shares. This price was set in accordance with regulations and valuation parameters.

Offer Details and Key Financial Snapshot​

The offer targets 4,23,70,160 Equity Shares, representing 25.00% of the total issued equity share capital of EIL. The Fixed Delisting Price proposed by the Acquirers is INR 181.80 per Equity Share.

The structure and financial performance of Elpro International Limited (Target Company) over the past three fiscal years are provided below:

Current Shareholding and Post-Delisting Expectation​

As of the date of the DPA (July 17, 2026), the promoter group holds 12,71,08,970 Equity Shares, constituting 75.00% of the total equity share capital. Public Shareholders hold the remaining 4,23,70,160 shares (25.00%).

In the event of a successful completion of the Delisting Offer and assuming all public shareholders participate in tendering, the Promoter and Promoter Group are expected to hold 100% of the Equity Shares upon delisting.

Acquisition Process and Timeline​

The Acquirers have chosen the Acquisition Window Facility provided by BSE for facilitating the tendering process.

A tentative schedule of activities governing the Delisting Offer includes:


The Acquirers have appointed Motilal Oswal Investment Advisors Limited as the Manager to the Delisting Offer and MUFG Intime India Private Limited as the Registrar. Motilal Oswal Financial Services Limited was appointed as the Buying Broker for the offer.

ELPROINTL Stock Price Movement​

As of 2:17 PM, shares of Elpro International Limited are slipping slightly in live trading, currently priced at ₹176.5 as it sheds 0.01%. The equity saw significant activity throughout the session, hitting a high of ₹177 and registering a traded volume of 106,634 shares.