JPJindal Photo532624Delisting offer update

Voluntary Delisting Offer at Floor Price of ₹1,119.50 per Share

Voluntary delisting offer from the promoter group: floor price ₹1,119.50 per share, indicative ₹1,120.

By ScoutQuest · Fri 23 Oct 2026, 6:58 PM IST · 2 min read

Floor Price

₹1,119.50 per Equity Share

Indicative Price

₹1,120 per Equity Share

Offer Size

26,46,183 Equity Shares, representing 25.80% of the paid-up Equity Share Capital

What the offer is

• This is a voluntary delisting offer by Concatenate Power Advest Private Limited (Acquirer 1) and Concatenate Advest Advisory Private Limited (Acquirer 2), together with Jindal India Power Limited as person acting in concert (PAC).
• The Acquirers intend to acquire the equity shares held by public shareholders and, as a consequence, voluntarily delist the shares from BSE Limited and National Stock Exchange of India Limited.
• Offer size: 26,46,183 Equity Shares, representing 25.80% of the paid-up Equity Share Capital.
• Face value of each Equity Share: ₹ 10/-.

Price

• Floor Price: ₹ 1,119.50/- per Equity Share.
• Indicative Price: ₹ 1,120/- per Equity Share.
• The Discovered Price is the price at which the shareholding of the Acquirers along with Promoters reaches 90% of the total outstanding Equity Share Capital, arrived at through the reverse book-building process, and it shall not be lower than the Floor Price.

Key dates

• Bid Opening Date: Monday, November 02, 2026.
• Last date for revision (upwards) or withdrawal of bids: November 05, 2026.
• Bid Closing Date: Friday, November 06, 2026.
• Last date for announcement of the Discovered Price or Exit Price and acceptance/rejection: November 11, 2026.
• Proposed date for payment of consideration if the Discovered Price is higher than the Indicative Price: November 18, 2026.
• Last date for return of shares where bids are not accepted: November 11, 2026.

Who already holds what

• Acquirer 1 holds 75,07,162 Equity Shares, or 73.18% of the total issued Equity Share Capital.
• The Promoter and Promoter Group together hold 76,12,143 Equity Shares, or 74.20%.
• Acquirer 2 holds Nil Equity Shares, and Jindal India Power Limited (the PAC) does not hold any Equity Shares.

How the offer runs

• Bidding happens through the stock exchange mechanism, using the Acquisition Window Facility of BSE and NSE, through a stockbroker registered with either exchange.
• Emkay Global Financial Services Limited is the Buying Broker.
• Saffron Capital Advisors Private Limited is the Manager to the Delisting Offer; MUFG Intime India Private Limited is the Registrar.
• The offer is subject to the SEBI Delisting Regulations, 2021 and the SEBI circulars on the stock exchange mechanism.

Background timeline

• Initial Public Announcement: June 29, 2026.
• Board resolution approving the Delisting Proposal: July 16, 2026; shareholders' resolution: August 18, 2026.
• In-principle approval from BSE and NSE received: October 21, 2026.
• Detailed Public Announcement published: October 22, 2026.
• Last date for the Independent Directors' recommendation: October 29, 2026.

Risks flagged in the document

• The process may be delayed beyond the stated schedule for reasons outside the control of the parties, which can delay payment of consideration or return of shares.
• Receipt of money under the offer may be a taxable transaction; shareholders are advised to consult their own advisers.
• The Acquirers and PAC make no assurance about the future financial performance of the Target Company.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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