Nitin Castings Completes Review of Delisting Offer by Promoter Group
Nitin Castings Limited (NCL) has conducted a meeting of its Committee of Independent Directors regarding a significant delisting offer aimed at acquiring equity shares of the company. The Committee reviewed the proposal put forth by Mr. Nirmal B. Kedia, Mr. Nitin S. Kedia, and M/s. Citrus Castings Private Limited, who constitute the Promoters or Promoter Group.The meeting, held on Saturday, August 01, 2026, covered the delisting offer for 147,0894 issued, subscribed, and paid-up equity shares of NCL. These shares represent 28.61% of the total equity and voting share capital of Nitin Castings Limited.
The proposed acquisition was structured at an Offer Price of Rs. 273.36 per equity share. The deliberation addressed various public disclosures related to the offer, including the Initial Public Announcement dated January 30, 2026, a Detailed Public Announcement released on July 27, 2026 (originally dated July 24, 2026), and the Letter of Offer also dating back to July 24, 2026.
Following the committee meeting, which commenced at 11:30 a.m. and concluded at 12:30 p.m., the Committee made its recommendation on the Delisting Offer. NCL announced that the recommendations of the Committee of Independent Directors will be published on Monday, August 03, 2026, in the same newspapers where the Detailed Public Announcement appeared on July 27, 2026.
Stock Price Movement
Nitin Castings Ltd finished Friday's session firmly higher, settling at ₹521.75 after the close of trading, up 4.99%. Shares experienced significant intraday movement, bouncing between a low of ₹472.15 and their day's peak at ₹521.75.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.