Highlights

• Elpro International shares surged nearly 15% during Monday’s trading session.
• Promoters proposed a voluntary delisting offer at INR 181.80 per share.
• The board approved seeking shareholder approval through postal ballot voting.

Shares of Elpro International Limited (NSE:ELPROINTL) climbed sharply on May 11, 2026 after the company disclosed board approval related to a proposed voluntary delisting process.

The stock rose 14.79% to INR 165.25 during the trading session and touched a fresh 52-week high of INR 170.70. The stock opened at INR 160.08 against the previous close of INR 143.96.

Trading activity remained elevated with traded volume of 8.18 lakh shares and traded value of INR 13.62 crore. The company’s market capitalisation stood at approximately INR 2,805.56 crore.

Board Approves Delisting Proposal

According to the company’s filing dated May 8, 2026, the board considered and approved the delisting proposal submitted by promoter group entities I G E (India) Private Limited and Zenox Technology Services Private Limited, along with persons acting in concert.

The proposal involves acquiring all publicly held equity shares of the company and subsequently delisting the stock from BSE in accordance with SEBI Delisting Regulations, 2021.

The board stated that the proposal remains subject to shareholder approval through a special resolution, stock exchange approvals and other regulatory consents.

Fixed Delisting Price Announced

The company disclosed that the floor price for the proposed delisting offer has been determined at INR 158.07 per equity share.

The acquirers also proposed a fixed delisting price of INR 181.80 per share, representing a 15% premium over the floor price under applicable SEBI regulations.

The reference date used for calculating the floor price was May 4, 2026.

Promoters Hold 75% Stake

As per the due diligence report submitted to the board, the promoter group and persons acting in concert collectively hold 12.71 crore equity shares, representing 75% of the company’s paid-up equity capital.

Public shareholders hold the remaining 25% stake, equivalent to approximately 4.23 crore shares.

The filing also stated that the board reviewed due diligence and share capital audit reports before approving the proposal.

Postal Ballot Process Initiated

The company has approved conducting a postal ballot and remote e-voting process to seek shareholder approval for the proposed delisting.

A scrutinizer has also been appointed to oversee the voting process in accordance with Companies Act provisions and SEBI Delisting Regulations.

The board meeting commenced at 3:00 PM and concluded at 4:30 PM on May 8, 2026.

Stock Performance Remains Volatile

Elpro International shares have witnessed sharp price movement in recent sessions. Exchange data showed that close-to-close price movement exceeded 25% during the previous five trading days and over 40% during the previous 15 trading sessions.

The stock has gained more than 60% on a year-to-date basis.

Key Risks

• Delisting proposal remains subject to shareholder and regulatory approvals.
• Public shareholders may reject the delisting proposal through voting.
• Elevated stock volatility may continue during the delisting process.
• Final delisting timeline remains uncertain pending regulatory clearances.

Summary

Elpro International shares surged after the company announced board approval for a proposed voluntary delisting process. Promoter group entities offered a fixed delisting price of INR 181.80 per share, above the regulatory floor price. The proposal now moves to shareholder voting and regulatory approval stages. The stock also touched a fresh 52-week high amid increased trading activity and heightened market volatility.

FAQs

Q: Why did Elpro International shares rise sharply?
A: The stock gained after promoters proposed voluntary delisting at INR 181.80 per share.

Q: What is the proposed delisting price for Elpro shares?
A: The acquirers proposed a fixed delisting price of INR 181.80 per equity share.

Q: What approvals are required for the delisting proposal?
A: Shareholder approval, stock exchange approvals and regulatory clearances are still required.