National Fittings Ltd — Updates, 01-01-1970: Company Update

Himgiri Castings Private Limited (“Acquirer”) along with four persons acting in concert (PACs) has announced a board meeting on their plan to acquire up to 23.61 lakh equity shares (26%) of National Fittings Limited (“NFL”) in a mandatory open offer at ₹135 per share, aggregating ₹31.88 Cr. This follows a share purchase agreement with the promoter selling 30.92 lakh shares (34.04%) at ₹130 per share, totaling ₹40.19 Cr, resulting in a change of control. The Acquirer and PACs currently hold no shares in NFL. Funds for the offer are secured through internal resources and escrow arrangements. The offer is open to all public shareholders, requiring requisite approvals from non-resident investors. NFL’s recent financials show improved profitability with a PAT of ₹23.3 Cr and EPS of ₹25.66 for FY25. The Acquirer intends to continue NFL’s existing business and comply with public shareholding norms post-acquisition.