Jindal Photo delisting price set at ₹1,120 per share
Floor price of ₹1,119.50 determined by valuer; final price via reverse book-building. Public shareholding of 25.80% valued at ~₹296 cr at indicative price.
— 3 earlier stories on Jindal Photo Ltd. →What's new
- Promoters set indicative delisting price at ₹1,120/share, floor at ₹1,119.50.
- Offer covers 25.80% public shareholding (26,46,183 shares).
- First concrete pricing since delisting intention announced on June 29, 2026.
Why this matters
This transforms an abstract delisting proposal into a quantifiable offer. Public shareholders now have a benchmark to evaluate the reverse book-building outcome. The narrow gap between indicative and floor price suggests limited room for negotiation.
What we're watching
- Whether promoters accept or reject the discovered price after reverse book-building.
- Any counter-offer from dissenting shareholders.
- Timeline for completion of delisting process.
The full read
Jindal Photo's delisting finally has a price tag. Promoters offered ₹1,120 per share as an indicative price, just 50 paise above the floor of ₹1,119.50 set by valuer ICON Valuation LLP. The offer targets the 25.80% public stake — 26,46,183 shares worth roughly ₹296 crore at the indicative price. The narrow spread signals that promoters are anchoring expectations tightly. This is the first concrete number since the delisting proposal was announced on June 29, giving public shareholders a benchmark to weigh against future book-building bids. The company, with a market cap of ₹1,096 crore, reported ₹0 sales and a ₹1 crore loss in its latest quarter, though its trailing ROE of 23.3% and near-zero debt tell a different story. For now, shareholders have a number. The real negotiation starts with reverse book-building.
Questions answered
- What is the indicative offer price for Jindal Photo delisting?
- The promoter group has set an indicative price of ₹1,120 per share, with a floor price of ₹1,119.50 determined by registered valuer ICON Valuation LLP.
- How will the final delisting price be determined?
- The final price will be discovered through a reverse book-building process, where public shareholders tender their shares at desired prices. The acquirers retain the right to accept or reject the discovered price.
- What is the total value of the public shareholding at the indicative price?
- At ₹1,120 per share, the 26,46,183 shares held by public are worth approximately ₹296 crore.
- What happens if the discovered price is lower than the indicative price?
- The promoters have the right to accept or reject the discovered price. If they reject, the delisting process may fail and the company would remain listed.
- Why is this price disclosure significant for shareholders?
- It is the first concrete pricing since the delisting intention was announced on June 29, 2026, giving shareholders a clear benchmark to evaluate the offer and decide whether to tender.
Jindal Photo Ltd.
Latest quarter · Mar 2026
Leverage & growth
Story so far
All notes on JINDALPHOT →- 16 Jul 2026 · 1:25 PM IST Jindal Photo delisting price set at ₹1,120 per share
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