Nitin Castings delisting offer 2026: ₹273.36 floor price

Delisting offer formally begins

Nitin Castings Ltd has started a voluntary delisting offer led by its promoter group, opening a structured exit route for public shareholders. The company has issued a Detailed Public Announcement (DPA) dated July 27, 2026 for delisting its equity shares from BSE Limited. The delisting, if successful, will result in Nitin Castings ceasing to be a publicly listed company. The offer is being carried out in line with SEBI delisting regulations and will use a reverse book building (RBB) mechanism.

The promoters are seeking to buy back the entire public shareholding through this process. The floor price has been set at ₹273.36 per share, which acts as the reference price for shareholder bids. Public shareholders can tender shares at the floor price or quote a higher price during the bidding window.

Key dates investors need to track

The bid period has been scheduled from August 5, 2026 to August 11, 2026. The process will be conducted through the Acquisition Window Facility on BSE under the reverse book building framework. BSE has already granted in-principle approval for the proposed delisting.

The BSE in-principle approval reference cited is LOD/Delisting/VK/IP/545/2026-27 dated July 23, 2026. The company’s Initial Public Announcement (IPA) for the delisting was originally issued on January 30, 2026, marking the start of the formal delisting roadmap.

Who is acquiring the public shareholding

The acquirers named in the DPA are:

• Mr. Nirmal B. Kedia
• Mr. Nitin S. Kedia
• Citrus Castings Private Limited

These acquirers form part of the Promoters and Promoter Group of the company. Navigant Corporate Advisors Limited has issued the DPA as the Manager to the Delisting Offer on behalf of the acquirers.

The delisting offer is designed to acquire the remaining public stake so that promoter shareholding crosses the threshold required for delisting. The offer is specifically intended to buy shares held by public shareholders and consolidate ownership with the promoter group.

How many shares are being targeted

As per the DPA, the acquirers are seeking to acquire up to 14,70,894 equity shares from public shareholders. This represents 28.61% of the company’s total paid-up equity share capital. The equity shares have a face value of ₹5 per share.

On the ownership side, the disclosure notes that the total Promoter and Promoter Group holds 36,70,436 shares (71.39%). Separately, the three acquirers together hold 10,15,396 shares (19.75%), based on the figures provided in the announcement.

Floor price and price discovery through RBB

The floor price for the delisting offer is ₹273.36 per equity share. The company states that this floor price has been determined in accordance with Regulation 19A of the SEBI Delisting Regulations.

The final exit price is not fixed at the floor price. It will be discovered through the reverse book building process during the bid dates. Public shareholders can tender at ₹273.36 or bid higher, and the discovered price is the one that enables the promoters’ shareholding to reach the required level for delisting (the announcement describes this as reaching 90% of total issued equity shares).

Escrow funding to back the offer

The DPA notes that an escrow amount of ₹40,20,83,896 has been deposited. This escrow is a key procedural safeguard in delisting offers, demonstrating that funds are set aside to meet payment obligations if the delisting succeeds at the discovered price.

For public investors, escrow disclosures are relevant because they indicate the financial readiness of the acquirers to complete the transaction as per the regulatory framework. The exact execution, including the final discovered price and acceptance, will depend on the RBB outcome.

Regulatory approvals and shareholder vote

Nitin Castings has already obtained shareholder approval for the delisting proposal. The announcement cites shareholder approval obtained on March 29, 2026.

Additional voting details provided indicate strong support through the postal ballot route. The company recorded 45,59,910 votes in favour against 1,720 opposing votes for the special resolution. It also discloses that public shareholders cast 8,89,474 votes in favour.

What happens to shareholders who do not tender

The delisting framework outlined in the announcement includes a post-delisting exit option for residual shareholders. If the delisting succeeds, public 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.

This provision is important for investors who miss the bidding window or choose not to tender during the RBB. The right is linked to the same exit price discovered through the delisting process, as stated in the announcement.

Summary table: delisting offer details

Why the delisting matters for market participants

A voluntary delisting changes how shareholders can hold and trade a stock. If Nitin Castings is delisted, shareholders will no longer be able to buy or sell the equity shares on BSE, and liquidity through the exchange mechanism ends. That is why the delisting window and exit opportunity are central for public shareholders.

For investors evaluating participation, the key variables remain the discovered price and whether enough shares are tendered to meet the delisting thresholds described in the announcement. The floor price provides a minimum reference point, but the actual exit price can be higher based on bids received during RBB.

Conclusion

Nitin Castings’ promoter group has formally launched the voluntary delisting process from BSE, with a floor price of ₹273.36 per share and bidding scheduled from August 5 to August 11, 2026. The company has cited shareholder approval (March 29, 2026) and BSE’s in-principle approval (July 23, 2026) as key milestones already completed. The final delisting price will be discovered through reverse book building during the bid period, after which the delisting outcome will depend on regulatory conditions and the share tendering response.