Now Reading: Jindal Photo sets ₹1,120 indicative price for delisting
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Jindal Photo sets ₹1,120 indicative price for delisting
The Story in Brief
Jindal Photo Limited has set an indicative price of ₹1,120 per share for its voluntary delisting, following in-principle approval from BSE and NSE on 21 October 2026. The floor price is ₹1,119.50 per share, based on a valuation by ICON Valuation LLP. The final exit price will be determined through a reverse book-building process, with the bid period open from 2 November to 6 November 2026.
The delisting offer is made by Concatenate Power Advest Private Limited and Concatenate Advest Advisory Private Limited, along with Jindal India Power Limited. The promoter group collectively holds 74.20% of equity, while public shareholders hold the remaining 25.80%. The indicative price is just ₹0.50 above the floor, reflecting a minimal premium. The total escrow amount is estimated at ₹296.37 crore, based on the indicative price and outstanding public shareholding of 26,46,183 shares.
Indian Opinion Analysis
The ₹0.50 gap between the floor and indicative price signals the acquirers' intention to keep the exit cost low, leaving the final price to public shareholders who tender during the reverse book-building process. The 74.20% promoter holding means only the 25.80% public stake needs to be bought out, but low participation could reduce liquidity for those who hold out. The ₹296.37 crore escrow amount is fixed against the indicative price, so the actual payout will shrink if the book-building process drives the price lower. The five-day bid window from 2 November to 6 November 2026 will determine whether the offer succeeds and at what final price.
Source: scanx.trade
This brief was synthesised by AI from the source linked above. Methodology and corrections.
