Nilachal Refractories Ltd — Important, 01-01-1970: Company Update

SFAL Speciality Alloys launched a composite delisting and open offer for Nilachal Refractories (NRL) shares. SFAL is acquiring a 70.61% stake from NRL's promoters, which initiates this offer. SFAL aims to acquire up to 29.39% of NRL's voting capital at ₹22 per share to delist the company. Shareholders have approved the delisting. If delisting fails, an open offer for 19.39% at ₹20 per share will proceed. The total delisting offer is for ₹13.16 Cr. SFAL seeks control for business expansion, providing public shareholders an exit and reducing compliance. NRL reported an ₹4.71 Cr loss and ₹32.65 Cr negative net worth for the eleven months ended February 2026.