NOTICE OF POSTAL BALLOT
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Awaiting price reaction for this filing.
Nitin Castings Limited has issued a postal ballot notice seeking shareholder approval to voluntarily delist its equity shares from BSE. The delisting is being pursued by the promoters — Mr. Nirmal Kedia, Mr. Nitin Kedia, and Citrus Castings Private Limited (together the Acquirers) — who currently hold 71.39% (36,70,436 shares), while public shareholders hold the remaining 28.61% (14,70,894 shares). The floor price for the delisting offer has been set at ₹273.36 per equity share (face value ₹5), determined under SEBI Delisting Regulations and supported by a valuation report from Mr. Bhavesh M Rathod. Merchant banker Navigant Corporate Advisors is advising on the offer. The reverse book-building process will determine the final discovered price, and the Acquirers are obligated to accept shares at the floor/indicative price. E-voting runs from February 28, 2026 to March 29, 2026, and approval requires a special resolution with public shareholder votes in favor being at least twice those against.
This is a significant corporate action for public shareholders — it offers a potential exit opportunity at a price substantially above the ₹5 face value, subject to the reverse book-building outcome. If delisting is approved, shareholders who do not tender during the offer will retain a one-year window to exit at the same discovered price, after which the stock will lose its BSE listing and become unlisted, removing an easy avenue to sell.