Jindal Photo Limited Proposes Voluntary Delisting from BSE, NSE

Total equity shares: 1,02,58,326 fully paid-up equity shares of ₹10 each
Public shareholding proposed to be acquired: 26,46,183 equity shares (25.80% of paid-up equity share capital)
Promoter group holding: 76,12,143 equity shares (74.20% of total issued equity share capital)
Acquirer 1 (Concatenate Power Advest Private Limited) holding: 75,07,162 equity shares (73.18%)
Acquirer 2 (Concatenate Advest Advisory Private Limited) holding: Nil equity shares
Floor price for delisting offer: ₹1,119.50 per equity share
Indicative price: ₹1,120 per equity share (not formally declared)

Cut-off date for determining shareholders: Friday, July 10, 2026
Board meeting date: Thursday, July 16, 2026
Postal ballot notice date: July 16, 2026
Remote e-voting commencement: Monday, July 20, 2026 at 09:00 AM IST
Remote e-voting conclusion: Tuesday, August 18, 2026 at 05:00 PM IST
Results declaration: On or before Thursday, August 20, 2026
Reference date for delisting regulations: June 29, 2026 (date of Initial Public Announcement)

Acquirers: Concatenate Power Advest Private Limited (Acquirer 1) and Concatenate Advest Advisory Private Limited (Acquirer 2)
Person Acting in Concert: Jindal India Power Limited
Manager to Delisting Offer: Saffron Capital Advisors Private Limited
Scrutinizer: Ms. Pragnya Parimita Pradhan (Membership No. ACS 32778; COP No. 12030)
Registrar and Transfer Agent: MUFG Intime India Private Limited
Peer Reviewed Company Secretary: Bhumika & Co. (Certificate No. 8009/2026)
Registered Valuer: ICON Valuation LLP (IBBI Registration No. IBBI/RV-E/06/2019/107)
Stock Exchanges: BSE Limited and National Stock Exchange of India Limited

The delisting proposal aims to:

Obtain full ownership of the company providing enhanced operational flexibility
Support the company's business and make strategic investments
Save compliance costs and reduce management time dedicated to listing requirements
Provide an exit opportunity to public shareholders

The company has engaged MUFG Intime India Private Limited to provide remote e-voting facilities. Shareholders can vote:

1. Electronically through NSDL/CDSL systems or depository participants

2. Through physical postal ballot forms

3. The e-voting module will be available at https://instavote.linkintime.co.in/

Approval by special resolution through postal ballot
Votes cast by public shareholders in favor must be at least two times those against
Acquirers accepting the discovered price or providing counter offer
Sufficient equity shares tendered to make delisting successful
Obtaining all necessary regulatory and statutory approvals
Receipt of approvals from relevant third parties including lenders

The special resolution for delisting requires:

Approval by shareholders through postal ballot
Separate approval condition: Votes cast by public shareholders in favor must be at least two times those against the resolution

The company has appointed a scrutinizer to ensure fair and transparent voting process
Members holding shares in demat mode must update email addresses with company/depositories
The resolution if passed will be deemed passed on August 18, 2026
After delisting, remaining public shareholders can tender shares up to one year at the same final price