Description

BSE announces the outcome of the Reverse Book Building Process (RBBP) for delisting of INDUSS FOOD PRODUCTS & EQUIPMENTS LIMITED, conducted from May 6–12, 2026, under SEBI Delisting Regulations 2021.

Summary

BSE has disclosed the outcome of the Reverse Book Building Process (RBBP) for the delisting of INDUSS FOOD PRODUCTS & EQUIPMENTS LIMITED from the Exchange. The process was initiated by acquirers Mr. Shanti Swarup Aggarwal and Mrs. Sadhana Agarwal targeting 2,26,250 public equity shares (26.62% of total equity) at a floor price of Rs. 533.76 per share. The RBBP concluded on May 12, 2026, and the outcome has been finalized and announced as required under Regulation 17(3) of the SEBI (Delisting of Equity Shares) Regulations, 2021.

Key Points

  • Continuation of Exchange Notice No. 20240529-47 dated May 29, 2024 for the delisting offer
  • Acquirers: Mr. Shanti Swarup Aggarwal (Acquirer 1) and Mrs. Sadhana Agarwal (Acquirer 2)
  • Target company: INDUSS FOOD PRODUCTS & EQUIPMENTS LIMITED
  • Public shareholding targeted: 2,26,250 equity shares representing 26.62% of total equity share capital
  • Floor price: Rs. 533.76 (Five Hundred Thirty-Three and Seventy Six Paise) per equity share
  • Aggregate offer size: Up to Rs. 12.07 Crores
  • RBBP window: Wednesday, May 06, 2026 to Tuesday, May 12, 2026
  • Outcome finalized by Niche Technologies Private Limited (Registrar to Issue) and VC Corporate Advisors Private Limited (Manager to the Delisting Offer)
  • Outcome attachment filed as per Regulation 17(3) of SEBI Delisting Regulations 2021

Regulatory Changes

No new regulatory changes introduced. The process is governed by the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021. Disclosure of the RBBP outcome is mandated under Regulation 17(3) of these regulations.

Compliance Requirements

  • The Registrar to Issue (Niche Technologies Private Limited) and Manager to the Delisting Offer (VC Corporate Advisors Private Limited) were required to finalize and disclose the RBBP outcome
  • BSE is required to publish the outcome per Regulation 17(3) of SEBI Delisting Regulations 2021
  • The attached outcome document (dated May 12, 2026) constitutes the formal compliance disclosure

Important Dates

  • May 29, 2024: Original Exchange Notice (20240529-47) initiating the delisting offer
  • May 06, 2026: RBBP opening date
  • May 12, 2026: RBBP closing date and outcome announcement date

Impact Assessment

This circular is of high impact for public shareholders of INDUSS FOOD PRODUCTS & EQUIPMENTS LIMITED. The conclusion of the RBBP determines whether the delisting is successful — if sufficient shares were tendered at or below the discovered price, the company may be delisted from BSE, eliminating exchange-based liquidity for remaining shareholders. Public shareholders holding 26.62% of the equity (2,26,250 shares) were eligible to participate. The floor price of Rs. 533.76 per share and total offer size of Rs. 12.07 Crores indicate a small-cap company. Shareholders who did not tender during the RBBP window may face limited exit options if delisting proceeds successfully.

Impact Justification

Delisting of a listed company directly affects public shareholders holding 26.62% of equity; outcome of the RBBP determines whether the delisting succeeds or fails, with significant consequences for minority investors.