Nitin Castings Launches Delisting Offer; Acquirers Seek Full Control of Company
Nitin Castings Limited (NCL) has initiated a voluntary delisting offer for its equity shares from BSE Limited, aiming to consolidate ownership and reduce listing compliance burdens. The offer is being made by the Promoters/Promoter Group—comprising Mr. Nirmal B. Kedia, Mr. Nitin S. Kedia, and M/s. Citrus Castings Private Limited—to acquire a portion of the public share capital through a reverse book building process.The Delisting Offer encompasses 14,70,894 issued, subscribed, and paid-up equity shares ("Offer Shares") of NCL, each having a face value of Rs. 5/-. These specific shares constitute 28.61% of the total paid-up equity share capital of Nitin Castings Limited.
The primary objective behind this transition is to enable the Acquirers and members of the Promoter Group to obtain full ownership of the company, which is expected to provide increased operational flexibility and eliminate ongoing listing related compliance obligations and associated costs.
Key Financials as of March 31, 2026
As per the consolidated financials provided for NCL, the company demonstrated substantial assets and liabilities. The financial structure metrics are summarized below:| Particulars | Total (in Lakhs) |
|---|---|
| Total Assets | 14,046.58 |
| Total Equity and Liabilities | 14,046.58 |
| Book Value per Share (BV) | 178.43 |
Acquirers' Stake in NCL
The promoter group of Nitin Castings Limited holds a significant stake in the company. As of the date of the Delisting Offer, the Promoter/Promoter Group collectively holds 36,70,436 equity shares, representing 71.39% of the issued and subscribed paid-up equity share capital.The Acquirers—Mr. Nirmal B. Kedia, Mr. Nitin S. Kedia, and M/s. Citrus Castings Private Limited—collectively hold 10,15,396 equity shares, amounting to 19.75% of the total paid-up equity share capital.
Market Overview and Offer Mechanism
NCL's equity shares are currently listed on BSE Limited with Scrip Code: 508875 and ISIN: INE861H01020.The Acquirers have proposed to acquire the public shareholders' shares through a reverse book building process conducted via an acquisition window facility provided by the stock exchange.
In addition to the terms set out in the Delisting Offer, the company confirmed that the Board appointed M/s. Kala Agarwal as the scrutinizer and noted several operational details regarding the offer. The company also provided a tentative timeline for the Delisting Offer process, including a proposed date for payment of consideration if the Discovered Price is higher than the Floor Price.
The offer was published in various newspapers to ensure public dissemination.
Stock Price Movement
As of 13:48, Nitin Castings Ltd. is ticking lower, with shares trading at ₹523.50, reflecting a decline of 4.97% during the session. The stock has seen considerable volatility today, having tested an intraday high of ₹565.00 before settling near its low range.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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