Approval of Voluntary delisting by Board subject to approval of shareholders
Price
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The Board of Nilachal Refractories Ltd, at its meeting on March 31, 2026, approved the voluntary delisting of the company's equity shares from BSE and the Calcutta Stock Exchange, subject to shareholder approval. The delisting offer is being made by SFAL Speciality Alloys Limited (Acquirer), which already holds 1,43,77,522 shares (70.61%) from the promoters, and proposes to acquire the remaining 59,83,928 shares (29.39%) held by public shareholders. The total paid-up equity capital is 2,03,61,450 shares of face value ₹10 each. A postal ballot/e-voting process will be conducted to seek shareholder approval, and the floor price for the delisting offer is yet to be determined.
Public shareholders will get an exit opportunity through the delisting offer once the floor price is announced and shareholder approval is obtained via postal ballot. Until the final delisting price is communicated, the stock may see price discovery and potential volatility around the offer process.