BSECompany Update27 Jul 2026 · 27 Jul 2026, 01:16 pm
Motilal Oswal Investment Advisors Limited ("Manager to the Delisting Offer") has submitted a copy of Detailed Public Announcement to BSE Limited under Regulation 15 of the SEBI (Delisting ....
Elpro International Ltd · 504000
✦ AI Summary▼ NegativeDivestiture
Elpro International Ltd's promoters and persons acting in concert have expressed their intention to acquire all public shareholders' equity shares and delist the company from BSE, with Motilal Oswal Investment Advisors as the manager to the delisting offer.
Analysis Scores
Earnings Impact5/10
Growth Catalyst2/10
Governance Concern8/10
Regulatory Risk9/10
Balance Sheet Risk6/10
Liquidity Impact4/10
Market Sentiment3/10
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Full Announcement
Elpro International Ltd - 504000 - Detailed Public Announcement
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Date: July 27, 2026
BSE Limited,
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai - 400001.
Scrip Code: 504000
Dear Sir/Madam,
Sub: Detailed Public Announcement dated July 25, 2026, published on July 27, 2026 under Regulation
15 of the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021, as
amended (“Delisting Regulations”) for the delisting of the Equity Shares of Elpro International Limited
(“Target Company”).
I G E (India) Private Limited (“Acquirer 1”/ “IGE”) and Zenox Technology Services Private Limited (formerly
known as Zenox Trading and Manufacturing Private Limited) (“Acquirer 2”/ “Zenox”) (hereinafter Acquirer
1 and Acquirer 2 are collectively referred to as the “Acquirers”), part of the ‘promoter group’ of the Target
Company, along with Mr. Surbhit Dabriwala (“PAC 1”) and Mrs. Yamini Dabriwala (“PAC 2”) (hereinafter
PAC 1 and PAC 2 are collectively referred to as the “PACs”), as ‘persons acting in concert’ being the promoters
of the Target Company, have expressed their intention to: (a) acquire all the Equity Shares of the Target
Company that are held by its Public Shareholders; and (b) consequently voluntarily delist the Equity Shares of
the Target Company from BSE Limited, the only stock exchange where the Equity Shares of the Target
Company are presently listed, by making a delisting offer in accordance with the Delisting Regulations
(“Delisting Offer/ Delisting Proposal”).
With regards to the Delisting Proposal, Motilal Oswal Investment Advisors Limited is acting as the “Manager
to the Delisting Offer” pursuant to and in accordance with Regulation 9 of the Delisting Regulations.
As required under Regulation 15(1) of the Delisting Regulations, we are enclosing herewith the copy of the
Detailed Public Announcement (“DPA”) dated July 25, 2026 for the Delisting Offer published today i.e. July
27, 2026 in the following newspapers:
Newspaper Language Editions
Financial Express English All Editions
Jansatta Hindi All Editions
Navshakti Marathi Mumbai
We request you to kindly disseminate the DPA on your website at the earliest.
Capitalized terms used in this letter unless defined herein shall have the same meanings as ascribed to them in
the enclosed DPA.
In case you require any information or clarification the under-signed may be contacted:
Contact Persons Telephone Email
Ronak Shah/ Shashank Pisat + 91 22 7193 4380 delistings@motilaloswal.com
Thanking you,
Yours sincerely,
For Motilal Oswal Investment Advisors Limited
Name: Subodh Mallya
Designation: Executive Director