Nitin Castings Delisting Offer Fails: Acquirers Reject Discovered Price; Shares Remain Listed on BSE
The voluntary delisting attempt of Nitin Castings Limited's equity shares from the BSE Limited has failed, following the conclusion of the Reverse Book Building Process (RBB). The company confirmed that its Promoters/Promoter Group did not accept the discovered price, meaning the shares will continue to remain listed on the stock exchange.The Delisting Offer was conducted for a specific tranche of equity shares representing 28.61% of the issued, subscribed and paid-up capital of Nitin Castings Limited. The public shareholders were invited to submit bids during the RBB period, which ran from Wednesday, August 05, 2026, to Tuesday, August 11, 2026.
The process yielded specific results concerning the tendered shares and pricing:
| Metric | Value |
|---|---|
| Total Validly Tendered Offer Shares | 9,08,978 Equity Shares |
| Number of Bids Received (Demat) | 181 |
| Price Range for Tenders | Rs. 273.36 to Rs. 1,299.00 |
| Discovered Price | Rs. 300/- per Equity Share |
| Floor Price | Rs. 273.36 per Equity Share |
The Acquirers, comprising Mr. Nirmal B. Kedia (Acquirer-1), Mr. Nitin S. Kedia (Acquirer-2), and M/s. Citrus Castings Private Limited (Acquirer-3), confirmed that the Discovered Price was not acceptable to them. Consequently, the Delisting Offer is deemed to have failed.
As a result of the failure, the Acquirers will not acquire any Equity Shares tendered by the Public Shareholders. The equity shares of Nitin Castings Limited will remain listed on the BSE, and no final application for delisting will be submitted to the exchange.
The Post Offer Public Announcement regarding this outcome was published on August 13, 2026, in Financial Express (English), Jansatta (Hindi), and Pratahkal (Marathi). The cleared lien on the offered or tendered shares will be released by the Clearing Corporation on the date of this announcement. Furthermore, the Acquirers are restricted from initiating another delisting offer for a period of six months starting from the date of the Post Offer PA.
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Financial Snapshot: Nitin Castings Limited and Other Companies
The following tables provide selected financial results from various corporate updates released during the period:Nitin Castings Ltd - Unaudited Financial Results Summary (Quarter Ended June 30, 2026)
(Data provided for context relating to the delisting process)
| Particulars | Consolidated (INR in Lakhs) |
|---|---|
| Total Income from Operations | 1,18,743 |
| Net Profit/Loss before Tax (Unaudited) | 15,896 |
| Earnings per Share (before tax, after exceptional items) | 378.60 |
Anglo-French Drugs & Industries Limited - Unaudited Financial Results Summary (Quarter Ended June 30, 2026)
(Data provided for context)
| Particulars | Value (Rs. in Lakhs) |
|---|---|
| Total Income from Operations | 394 |
| Net Profit/Loss before Tax | 394 |
| Total Comprehensive Income | 397 |
Stock Price Movement
As of 12:37, Nitin Castings Ltd shares are edging lower at ₹350.55 as the equity declines by 4.99%. The stock is trading completely flat, with the intraday high and low both locked at ₹350.55.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.
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