Jindal Photo

Jindal Photo Limited's promoter group set an indicative offer price of ₹1,120 per share for the voluntary delisting of the company, according to a filing by Saffron Capital Advisors, the manager to the offer. The floor price, determined by registered valuer ICON Valuation LLP in accordance with SEBI delisting regulations, was set at ₹1,119.50 per share. The offer applies to the 26,46,183 shares, or 25.80% of the equity, held by public shareholders. The final discovered price will be determined through a reverse book-building process, with the acquirers retaining the right to accept or reject the discovered price. The indicative price is a key step in the delisting, giving shareholders a benchmark to assess the offer.

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Jindal Photo Limited’s promoter group entities, Concatenate Power Advest Private Limited and Concatenate Advest Advisory Private Limited, together with Jindal India Power Limited as person acting in concert, have announced a voluntary delisting offer to acquire all equity shares held by public shareholders. The offer covers 26,46,183 shares, representing 25.80% of the company’s paid-up equity capital. The acquirers currently hold 74.20% of the shares, and the delisting, if successful, would result in full promoter ownership and the removal of the stock from BSE and NSE. The floor price will be determined in accordance with delisting regulations, with the final discovered price to be set through a reverse book-building process. The acquirers retain the discretion to accept or reject the discovered price.

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