ALFA Finder
| Stake Acquired | 15.16%of total equity |
|---|---|
| Market Cap | ₹1,155.19 CrSmall Cap |
| Exit Price | ₹1,161per share |
| Day RSI | 61.1Neutral Zone |
Key highlights
- Jindal India Power Limited acquired 15,55,529 shares on November 13, 2026
- The stake represents 15.16% of the total equity share capital of Jindal Photo
- Acquisition conducted via stock exchange mechanism for voluntary delisting
- Discovered exit price for the delisting offer fixed at ₹1,161 per share
- Promoter group holding set to reach 92.10% following the delisting process
Jindal India Power Acquires 15.55 Lakh Shares
Jindal India Power Limited, acting as a person acting in concert with the acquirers, has completed the purchase of 15,55,529 equity shares of Jindal Photo Limited. This transaction increases the specific holding of Jindal India Power from zero to 15.16% of the total voting capital. The shares, which have a face value of ₹10 each, were acquired through the stock exchange mechanism.
This move is part of a broader voluntary delisting offer initiated by the promoter group to acquire shares from public shareholders, adhering to the SEBI Delisting of Equity Shares Regulations, 2021.
Chronology of the Voluntary Delisting Process
- Initial public announcement for delisting intention issued on June 29, 2026
- Letter of offer released on October 23, 2026, at a floor price of ₹1,119.50
- Reverse book building discovered an exit price of ₹1,161 on November 6, 2026
- Promoter group accepted the discovered price to acquire 16,58,112 shares
- Disbursement of ₹192.51 crore to shareholders scheduled by November 18, 2026
- Unaccepted shares tendered above exit price returned on November 11, 2026
Quarterly Performance and Operational Margins
Jindal Photo Limited reported a consolidated operating revenue of ₹10.76 crore for the quarter ended September 30, 2026. This reflects a 35.01% growth over the previous quarter, although it represents a slight decline of 1.65% compared to the same period last year. Net profit for the quarter stood at ₹3.24 crore, showing a significant decrease from the previous quarter's performance.
Despite the profit decline, the company maintained a high operating profit margin of 96.56% during this period. The company operates as a Core Investment Company, primarily holding investments in group entities.
Structural Changes in Promoter Group Holdings
Prior to this acquisition, the overall promoter group holding in Jindal Photo Limited stood at 74.2%. With the successful acquisition of shares through the delisting mechanism, the total promoter stake is expected to increase to 92.10%. The company has a total equity capital of ₹10.25 crore, divided into 1,02,58,326 equity shares.
The stock has experienced a one-year price change of -18.7%, trading currently at ₹1126.1. The Price to Earnings ratio is recorded at -10.87, contrasting with the sector PE of 52.08 and the industry average of 23.31.
| Date | Announcement | Amount |
|---|---|---|
| 10 Nov 2026 | Acquirers and PAC post-offer public announcement confirming acquisition of 16,58,112 equity shares at Rs 1,161 per share to take promoter holding to 92.10% for voluntary delistingSource: BSE filing | ₹192.51 Cr |
| 06 Nov 2026 | Acquirers and PAC accepted reverse book building discovered exit price of Rs 1,161 per share to acquire 16,58,112 equity sharesSource: integratedmaster.com | ₹192.51 Cr |
| 23 Oct 2026 | Acquirers and PAC issued letter of offer for voluntary delisting to acquire up to 26,46,183 equity shares from public shareholders at floor price of Rs 1,119.50 per shareSource: BSE filing | ₹296.24 Cr |
| 29 Jun 2026 | Acquirers and PAC initial public announcement expressing intention to acquire up to 26,46,183 equity shares (25.80%) for voluntary delistingSource: BSE filing | – |
What to watch next
- Disbursement of delisting consideration to public shareholders on November 18, 2026
- Formal application for delisting from BSE and NSE following payment completion
- Final shareholding pattern disclosure post-delisting settlement
| Share price | ₹1126.1 |
|---|---|
| Market capitalisation | ₹1,155.19 Cr |
| Revenue (annual) | ₹12.58 Cr |
| Net profit (annual) | -₹22.79 Cr |
| Revenue (latest quarter) | ₹10.76 Cr+35.01% vs previous quarter |
| Net profit (latest quarter) | ₹3.24 Cr-75.23% vs previous quarter |
| P/E (TTM) | -10.87×Sector 52.08× |
| Promoter holding | 74.2%0.00% QoQ |
| FII holding | 0%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Jindal Photo Limited regarding disclosure under Regulation 29(1) of SEBI SAST Regulations. Market figures from a third-party data provider.
