Nitin Castings delisting offer: ₹273.36 floor in 2026

What has been announced

Nitin Castings Limited has begun a voluntary delisting process for its equity shares from BSE, the only stock exchange where the company is currently listed. The promoter group has issued a Letter of Offer to public shareholders, setting out the terms of the delisting proposal. The offer is being carried out under the SEBI (Delisting of Equity Shares) Regulations, 2021. The floor price for the offer has been fixed at ₹273.36 per share, which acts as the reference price in the bidding process.

The proposed delisting is structured through the reverse book building (RBB) route, the standard SEBI mechanism for price discovery in voluntary delistings. Eligible public shareholders can tender their shares through the BSE acquisition window during the bid window. If the delisting is successful, Nitin Castings will cease to be a publicly listed company.

Who the acquirers are

The acquirers named for the delisting are the company’s promoters: Nirmal B. Kedia, Nitin S. Kedia, and Citrus Castings Private Limited. The stated objective is to acquire the shares held by public shareholders to enable delisting from BSE.

As per the information provided, the promoters currently hold 71.39% of the equity share capital, represented by 36,70,436 shares. Public shareholders hold the remaining 28.61%, represented by 14,70,894 shares. The offer targets up to 14,70,894 equity shares, meaning it is designed to cover the full public shareholding.

Key terms: shares, price, and face value

The delisting offer is for up to 14,70,894 equity shares, which constitutes 28.61% of the company’s paid-up equity share capital. The face value of each equity share is ₹5. The minimum offer price, described as the floor price, is ₹273.36 per equity share.

In an RBB-based delisting, shareholders can bid at or above the floor price during the bidding period. The discovered price, often referred to as the exit price, is determined through the bids received during the process, subject to the delisting rules and thresholds.

Timeline: DPA, offer documents, and the bid window

Nitin Castings issued a Detailed Public Announcement (DPA) dated July 27, 2026 for the voluntary delisting of its equity shares. The Letter of Offer is part of the same process and is intended for public shareholders. The communication also notes that the Letter of Offer will be dispatched to public shareholders by July 29, 2026.

The reverse book building bid period is scheduled to open on Wednesday, August 5, 2026, and close on Tuesday, August 11, 2026. During this window, eligible shareholders can tender shares through the BSE acquisition window facility.

Regulatory and exchange approvals mentioned

The delisting proposal has already moved through key procedural steps cited in the documents. Shareholder approval was obtained on March 29, 2026. Separately, the company has stated that shareholders approved the voluntary delisting through a postal ballot, with 100% of valid votes in favour.

BSE has granted in-principle approval for the proposed delisting. The reference cited is LOD/Delisting/VK/IP/545/2026-27 dated July 23, 2026. These steps are part of the compliance path required for a voluntary delisting under SEBI regulations.

Intermediaries: manager to the offer and broker

Navigant Corporate Advisors Ltd has been appointed as the Manager to the Delisting Offer and has submitted the Letter of Offer to BSE for public shareholders of Nitin Castings Ltd. The process, as described, will be conducted as per SEBI Delisting Regulations through the reverse book building framework.

Allwin Securities Limited has been appointed as the registered broker for the transaction. Public shareholders tender shares through the platform as per the process specified in the offer documents.

Escrow deposit and what it signals

The documents mention that an escrow amount of ₹40,20,83,896 has been deposited for the delisting offer. In crore terms, this is ₹40.2083896 crore. Escrow is a standard feature of delisting offers and is used to demonstrate the acquirers’ ability to meet the payment obligations arising from shares tendered and accepted in the process.

While the escrow deposit supports the mechanics of the offer, shareholders still need to evaluate the delisting timetable, the floor price, and the final discovered price through RBB before deciding whether to participate.

What happens if the delisting succeeds

If the delisting is successful, Nitin Castings’ equity shares will be delisted from BSE, and the company will no longer remain listed on a stock exchange. The RBB process is intended to determine the exit price for shareholders who tender during the bid window.

The DPA notes that public shareholders who do 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. This is a defined post-delisting exit route described in the offer-related disclosure.

Key facts at a glance

Market impact and what investors typically track

The disclosures focus on process details such as the floor price, bid dates, and approvals, and do not cite any immediate stock price reaction. For shareholders, the near-term decision point is whether to participate in the RBB window based on their own price expectations versus the stated floor price of ₹273.36.

For the market, a delisting proposal typically reduces visibility into future public price discovery if the company exits the exchange, and it concentrates ownership with the promoter group. In this case, the proposal is framed as an acquisition of the entire public float of 28.61% through the RBB mechanism on BSE.

Conclusion

Nitin Castings’ promoter group has formally launched a voluntary delisting offer from BSE with an RBB window scheduled from August 5 to August 11, 2026 and a floor price of ₹273.36 per share. The process follows SEBI’s 2021 delisting regulations, supported by shareholder approval and BSE’s in-principle clearance. The next key milestone is the price discovery outcome of the reverse book building process during the notified bid dates.