Hindustan Fluorocarbons Limited (HFL), a subsidiary of Hindustan Organic Chemicals Limited (HOCL), has commenced a voluntary delisting process for its equity shares from the Bombay Stock Exchange (BSE). This move follows the Government of India's directive in January 2020 to shut down the company's operations.

Delisting Offer Details

HOCL, which currently holds a 56.43% stake in HFL, is set to acquire the remaining shares from public shareholders at an exit price of INR 17.76 per share. The delisting offer will run from August 4, 2025, to November 18, 2025, targeting 76,69,100 equity shares representing 39.13% of the paid-up capital held by public shareholders.

Regulatory Approvals and Exemptions

The Securities and Exchange Board of India (SEBI) has granted exemptions to facilitate the delisting process. Notably, the requirement for 90% public shareholder approval has been waived, subject to certain conditions. These include obtaining necessary approvals from the Board of Directors and shareholders of the company in accordance with Delisting Regulations.

Financial Considerations

The total consideration for the offer amounts to INR 13.62 crore, which has been deposited in an escrow account. This move ensures that funds are readily available for the share acquisition process.

Extended Exit Window

In line with SEBI's directives, HOCL will continue to accept shares from remaining public shareholders for up to one year post-delisting at the same price. This extended window provides an opportunity for shareholders who may not participate during the initial offer period.

Background and Rationale

HFL, incorporated in 1983, was engaged in the manufacture of Poly Tetra Fluoro Ethylene (PTFE) and Chloro Di Fluoro Methane (CFM-22). The company ceased operations following a Government of India directive in January 2020 to shut down the plant.

Investor Considerations

Public shareholders of HFL are advised to review the detailed terms and conditions of the delisting offer. The offer provides an exit opportunity for investors at a predetermined price, considering the company's non-operational status.

This delisting process marks a significant step in the winding down of Hindustan Fluorocarbons Limited's operations, aligning with the government's decision to close the company. Shareholders are encouraged to make informed decisions regarding their holdings within the specified timeframe.

Hindustan Fluorocarbons Limited (HFL) has made a significant announcement that is likely to impact its shareholders and market presence.

Voluntary Delisting from BSE

HFL has declared its intention to voluntarily delist its equity shares from the Bombay Stock Exchange (BSE). The company is taking steps to inform its equity shareholders about this decision through a public announcement, which is scheduled to be published in multiple newspapers across India on July 30, 2025.

CapitalSquare Advisors Private Limited, acting as the Manager to the Offer, will issue the announcement on behalf of Hindustan Organic Chemicals Ltd, identified as the acquirer in this delisting process. The public notice will appear in the following newspapers:

• The Financial Express (all editions)
• Jansatta (all editions)
• The Financial Express (Ahmedabad edition)
• Mana Telangana (Hyderabad edition)

This move signals a significant change in the company's public trading status and could have important implications for its shareholders.

Upcoming Board Meeting and Q1 Results

In addition to the delisting news, HFL has also announced its 232nd Board Meeting, scheduled for Tuesday, August 12, 2025, at 11:30 AM. The meeting will be conducted in a hybrid format, with physical presence at the Conference Room of HOCL Registered & Corporate Office and Kochi Factory in Ambalamugal, Ernakulam, as well as through video conferencing.

Key points about the board meeting:

• Agenda: The board will consider and approve the limited reviewed financial statements for the first quarter ended June 30, 2025, along with other routine agenda items.
• Trading Window: As per the company's earlier communication, the trading window for dealing in HFL's securities/equity shares has been closed since July 1, 2025. It will remain closed until 48 hours after the announcement of the Q1 financial results.

These developments underscore significant changes in HFL's corporate strategy and governance. Shareholders and potential investors should closely monitor further announcements from the company regarding the delisting process and the upcoming financial results.

Note: All dates mentioned are as per the company's announcements and are subject to any changes the company may declare.