Nitin Castings delisting: ₹273.36 floor price 2026

Delisting offer opens an exit route for public shareholders

Nitin Castings Ltd has formally started a voluntary delisting offer from BSE Limited, led by its promoter group. The company has issued a Detailed Public Announcement (DPA) dated July 27, 2026, outlining the process and key timelines. If the delisting succeeds, Nitin Castings will cease to be a publicly listed company. The mechanism being used is the Reverse Book Building (RBB) process under SEBI (Delisting of Equity Shares) Regulations, 2021. For public shareholders, the offer creates a structured window to tender shares during the bidding period. The floor price for bidding has been fixed at ₹273.36 per equity share.

BSE approval and the regulatory framework

The company has already received in-principle approval from BSE for the proposed delisting. The approval reference cited is LOD/Delisting/VK/IP/545/2026-27 dated July 23, 2026. The offer is being conducted in line with the SEBI delisting regulations notified in 2021, which require a price discovery process through RBB. The DPA and Letter of Offer are central documents that communicate the offer terms to shareholders. The announcement also clarifies what happens to shareholders who do not tender during the process, including post-delisting rights in certain cases.

Who is leading the delisting offer

The promoters named in the offer documents include Nirmal B. Kedia, Nitin S. Kedia, and Citrus Castings Private Limited. The delisting is described as a voluntary initiative by the promoter group. The acquirers intend to purchase the equity shares currently held by public shareholders through the RBB route. The stated objective is to acquire the public shareholding, subject to the outcome of the bidding process.

Offer size: shares targeted and public holding portion

According to the disclosed details, the promoters plan to acquire up to 1,470,894 equity shares. This represents 28.61% of the company’s total paid-up equity share capital held by public shareholders. The offer is positioned as a route for public shareholders to exit if they choose to participate. The final delisting outcome depends on the bidding and the discovered exit price under the regulatory process.

Floor price and how price discovery works

The floor price for the delisting offer has been fixed at ₹273.36 per equity share. The documents describe this as the minimum offer price, set in accordance with SEBI (Delisting of Equity Shares) Regulations, 2021. Under the RBB mechanism, eligible public shareholders can submit bids to tender shares at prices at or above the floor price. The discovered Exit Price is determined through the reverse book building process. The Exit Price becomes relevant for shareholders who tender during the bidding period and, in some circumstances, for those who do not.

Key dates: dispatch, bidding window, and announcement trail

Navigant Corporate Advisors Ltd, acting as the Manager to the Delisting Offer, has submitted the Letter of Offer to BSE for public shareholders. The Letter of Offer is scheduled to be dispatched to public shareholders by July 29, 2026. The RBB bidding window is set to open on August 5, 2026, and close on August 11, 2026. During this period, eligible shareholders can tender shares through the BSE acquisition window, as stated in the offer details.

Shareholders’ options during and after the delisting process

Public shareholders can participate in the RBB during August 5-11, 2026 by tendering shares through the prescribed process. The disclosures also note an important post-delisting right if the delisting succeeds. Shareholders who did not tender their shares during the RBB will have the right to offer their shares to the acquirers at the Exit Price for one year from the date of delisting. The materials also state that shareholders who do not participate, or whose bids are not accepted, may continue holding shares if the delisting is successful.

Intermediaries appointed for the transaction

The offer lists key intermediaries involved in execution. Navigant Corporate Advisors Ltd is the Manager to the Delisting Offer. Allwin Securities Limited has been appointed as the registered broker for the transaction. The offer process is designed to run through the stock exchange mechanism, enabling eligible shareholders to tender shares via the BSE acquisition window during the RBB period.

Prior approvals: shareholder vote and board decisions

The disclosures state that shareholder approval for the voluntary delisting was obtained on March 29, 2026. It is also mentioned that shareholders approved the voluntary delisting via postal ballot with 100% of valid votes in favour. Separately, the company has indicated that its board approved the voluntary delisting, with the floor price set at ₹273.36 per share, subject to shareholder approval and SEBI rules. These steps form part of the procedural requirements typically referenced in delisting timelines.

Key facts table

Market impact and why the development matters

A voluntary delisting offer changes the way investors assess liquidity and exit options, because the company may no longer remain listed if the process succeeds. For current public shareholders, the RBB window is the primary structured route to tender shares during the delisting process. The floor price of ₹273.36 anchors the bidding process, while the final Exit Price is discovered through bids submitted during August 5-11, 2026. Another important detail for investors is the one-year window post-delisting, during which non-tendering shareholders can offer their shares to the acquirers at the Exit Price, as stated in the offer disclosures. The in-principle approval from BSE and the earlier shareholder approval indicate that key procedural steps have been completed, with the next milestones tied to the RBB timeline.

Conclusion

Nitin Castings’ promoter group has initiated a voluntary delisting from BSE, supported by a DPA dated July 27, 2026 and BSE’s in-principle approval dated July 23, 2026. The offer sets a floor price of ₹273.36 per share and targets up to 1,470,894 shares held by public shareholders, or 28.61% of paid-up equity capital. The reverse book building window is scheduled for August 5-11, 2026, with the Letter of Offer to be dispatched by July 29, 2026. The next key development will be the outcome of bidding and the determination of the Exit Price under the SEBI delisting framework.