Nitin Castings
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Nitin Castings' voluntary delisting offer failed after the acquirers rejected the ₹300-a-share discovered price. The offer drew 9,08,978 valid tenders from 181 bids, while nine successful bids for 7,53,964 shares set the discovered price above the ₹273.36 floor. The acquirers will not acquire the tendered shares, and the company's equity will remain listed on BSE. The process followed a January proposal by promoters Nirmal B. Kedia and Nitin S. Kedia, together with Citrus Castings Private Limited, to acquire up to 14,70,894 public shares, or 28.61% of issued capital. The acquirers cannot make another delisting offer for six months from the post-offer announcement.
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Nitin Castings' voluntary delisting offer failed after the acquirers rejected the ₹300-a-share discovered price. The offer drew 9,08,978 valid tenders from 181 bids, while nine successful bids for 7,53,964 shares set the discovered price above the ₹273.36 floor. The acquirers will not acquire the tendered shares, and the company's equity will remain listed on BSE. The process followed a January proposal by promoters Nirmal B. Kedia and Nitin S. Kedia, together with Citrus Castings Private Limited, to acquire up to 14,70,894 public shares, or 28.61% of issued capital. The acquirers cannot make another delisting offer for six months from the post-offer announcement.
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Nitin Castings' voluntary delisting offer failed after the promoters rejected the ₹300 a share discovered price from the reverse book-building process. The process produced 7,53,984 successful bids between the ₹273.36 floor price and ₹300, although no shares were acquired after the rejection. The company's equity remained listed on BSE, no final delisting application was made, and liens on tendered shares were released on August 13. The offer had sought up to 14,70,894 public shares, or 28.61% of issued capital. Nitin Castings generated ₹147.09 crore in operating revenue and ₹10.63 crore in PAT in FY26 from its alloy-steel castings business.
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Nitin Castings' voluntary delisting offer failed after the promoters rejected the ₹300 a share discovered price from the reverse book-building process. The process produced 7,53,984 successful bids between the ₹273.36 floor price and ₹300, although no shares were acquired after the rejection. The company's equity remained listed on BSE, no final delisting application was made, and liens on tendered shares were released on August 13. The offer had sought up to 14,70,894 public shares, or 28.61% of issued capital. Nitin Castings generated ₹147.09 crore in operating revenue and ₹10.63 crore in PAT in FY26 from its alloy-steel castings business.
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Nitin Castings’ reverse book-building process for voluntary delisting from BSE produced a discovered price of ₹300 a share, against a floor price of ₹273.36. The offer attracted 7,53,984 shares through nine successful bids, and the promoter group’s holding rose from 71.39% to 86.06% of issued equity, or 90.73% of the remaining shares. The delisting offer met the 90% threshold and was described as successful if the acquirers accepted the discovered price; payment to successful bidders would follow under the delisting regulations. Nitin Castings operated a single alloy-steel castings business and reported FY26 revenue of ₹147.09 crore and PAT of ₹10.63 crore.
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Nitin Castings’ reverse book-building process for voluntary delisting from BSE produced a discovered price of ₹300 a share, against a floor price of ₹273.36. The offer attracted 7,53,984 shares through nine successful bids, and the promoter group’s holding rose from 71.39% to 86.06% of issued equity, or 90.73% of the remaining shares. The delisting offer met the 90% threshold and was described as successful if the acquirers accepted the discovered price; payment to successful bidders would follow under the delisting regulations. Nitin Castings operated a single alloy-steel castings business and reported FY26 revenue of ₹147.09 crore and PAT of ₹10.63 crore.
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May 22 (Reuters) - Nitin Castings Ltd NITN.BO:
NITIN CASTINGS LTD - DIVIDEND OF 3 RUPEES PER SHARE
Source text for Eikon: ID:nBSE1NljcH
Further company coverage: NITN.BO
(([email protected];))
May 22 (Reuters) - Nitin Castings Ltd NITN.BO:
NITIN CASTINGS LTD - DIVIDEND OF 3 RUPEES PER SHARE
Source text for Eikon: ID:nBSE1NljcH
Further company coverage: NITN.BO
(([email protected];))
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Popular questions
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What does Nitin Castings do?
Nitin Castings Ltd., a group company known for high quality alloy steel castings, gained recognition in import substitution in core sectors, impacting national industries significantly.
Who are the competitors of Nitin Castings?
Nitin Castings major competitors are Thaai Casting, National Fittings, Bhagwati Autocast, Guj. Intrux, KVS Castings, Gallard Steel, Sharp Chucks & Mach.. Market Cap of Nitin Castings is ₹261 Crs. While the median market cap of its peers are ₹160 Crs.
Is Nitin Castings financially stable compared to its competitors?
Nitin Castings seems to be less financially stable compared to its competitors. Altman Z score of Nitin Castings is 5.64 and is ranked 4 out of its 8 competitors.
Does Nitin Castings pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Nitin Castings latest dividend payout ratio is 12.43% and 3yr average dividend payout ratio is 11.01%
How has Nitin Castings allocated its funds?
Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments
How strong is Nitin Castings balance sheet?
Balance sheet of Nitin Castings is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of Nitin Castings improving?
The profit is oscillating. The profit of Nitin Castings is ₹7.6 Crs for TTM, ₹12.41 Crs for Mar 2025 and ₹12.13 Crs for Mar 2024.
Is the debt of Nitin Castings increasing or decreasing?
Yes, The net debt of Nitin Castings is increasing. Latest net debt of Nitin Castings is ₹13.52 Crs as of Mar-26. This is greater than Mar-25 when it was ₹7 Crs.
Is Nitin Castings stock expensive?
Yes, Nitin Castings is expensive. Latest PE of Nitin Castings is 33.83, while 3 year average PE is 25.32. Also latest EV/EBITDA of Nitin Castings is 28.46 while 3yr average is 19.13.
Has the share price of Nitin Castings grown faster than its competition?
Nitin Castings has given lower returns compared to its competitors. Nitin Castings has grown at ~-12.75% over the last 2yrs while peers have grown at a median rate of -11.94%
Is the promoter bullish about Nitin Castings?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Nitin Castings is 71.39% and last quarter promoter holding is 71.39%.
Are mutual funds buying/selling Nitin Castings?
There is Insufficient data to gauge this.