Nava Bharat Ventures Ltd Buyback - Nava Bharat Ventures Ltd Buyback Price With Record Date and Other Details

Nava Bharat Ventures Ltd will buyback nearly 150 crore shares for about Rs.150,00,00,000/- (RupeesOne Hundred and fifty crores only)/-. In a filing to the stock exchanges, Nava Bharat Ventures Ltd said it will buyback 3.94% percent of the fully paid-up equity shares at a price of Rs.100/- per share.

The board of directors of Nava Bharat Ventures Ltd approved the proposal to buyback of not exceeding 150 crore equity shares of face value of Rs 2 each of the company (representing 3.94% percent of the total number of fully paid-up equity shares in the paid-up share capital of the company) at a price of Rs 100 per equity for an aggregate consideration not exceeding Rs 150 crore," it said.

    Nava Bharat Ventures Buyback

    Nava Bharat Ventures Ltd BuyBack 2021 Offer Deal:

    Buyback Type:Open Market Offer
    Buyback Record Date: N/A
    Buyback Offer Amount: ₹ 150 Crore
    Date of Board Meeting approving the proposal: Feb 26 2021
    Date of Public Announcement: Mar 01 2021
    Buyback Offer Size: 3.94%
    Buyback Number of shares: 1,50,00,000
    Price Type: Open Market 
    FV: Rs. 2
    Buyback Price: ₹ 100 Per Equity Share

    Nava Bharat Ventures Ltd buyback of 1,50,00,000 equity shares which is around 3.94of all the existing number of equity shares at a price of ₹100 per equity share. The buyback offer not exceeding of ₹ 150 crore of total buyback offer size.

    Note: If anything you want to know about the buyback offer you can refer the Nava Bharat Ventures Ltd offer documents. Click Here


    Nava Bharat Ventures Ltd Buyback Important Dates

    Buyback ActivityDate
    Board Meeting for Nava Bharat Ventures Ltd Buyback proposal26.02.2021
    Nava Bharat Ventures Ltd Buyback Approval date26.01.2021
    Public Announcement of  Buyback01.03.2021
    Buyback Start Date ( Commencement Date )10-03-2021
    Last date for the completion of the Buy-back09-09-2021

    Necessity of Buyback by Nava Bharat Ventures Ltd

    Buy-back is  the acquisition by a company of    its own shares. Buy-back is   an efficient form of    returning surplus cash to  the members holding equity shares of    the Company, inter-alia, for the following reasons: 

    i.    The Buy-back will help the Company to   return surplus cash to    its members holding equity shares broadly in proportion to their shareholding, thereby, enhancing the overall return to   members; 

    ii.    The Buy-back, which is   being implemented through the Tender Offer route as prescribed under the Buy-back Regulations, would  involve allocation  of  higher  of  number of  shares as  per their entitlement or  15% of the number of    shares to  be bought back,  reserved for the small shareholders. The Company  believes that this reservation of    15% for small shareholders would benefit a large number of    public shareholders, who would get classified as "small shareholder; 

    iii.    The Buy-back would help in   improving return on equity, by reduction in   the equity base, thereby leading to   long term increase in  shareholders' value; and 

    iv.    The  Buy-back  gives an  option to the  members  holding  equity shares  of the  Company, who can  choose to participate and get cash in  lieu of    Equity Shares to   be accepted under the Buy-back offer or    they may choose to not participate and enjoy a resultant increase in   their percentage shareholding, post the Buy-back offer, without additional investment. 

    About Nava Bharat Ventures Ltd

    Established in 1972 as an Indian ferro alloys manufacturer, Nava Bharat is now a multinational company, operating in India, South East Asia and Africa.

    We are a diversified group, with businesses in metals manufacturing, power, mining, agribusiness and healthcare; and we employ more than 1,000 people in operations across two continents.

    We now produce and supply over 200,000 tons of ferro alloys each year; operate several power plants of 743 MW; work with hundreds of sugarcane farmers to produce and process sugar as well as ethanol; and in 2017, our investments grew to include healthcare services.

    In 2010, our international assets grew to include Maamba Collieries, Zambia’s largest coal mine concessionaire, which has also led to the development of a 300 MW power plant in Zambia, in 2016.

    We are listed on both of India’s major stock exchanges - the NSE and the BSE.

    How to Participate in buyback?

    1. The Buy-back is open to all shareholders | beneficial owners holding the Equity Shares in de-materialized form (“Demat Shares”). Shareholders holding Equity Shares in physical form can participate in the Buy-back after such Equity Shares are de-materialized by approaching depository participant. However, in accordance with Regulation 16
    (ii) of the Buy-back Regulations, the Buy-back will not be made from the Promoters and Promoter Group of the Company.

    2. Further, as required under the Act and the Buy-back Regulations, the Company will not buy back any Equity Shares which are locked-in or non-transferable, until the pendency of such lock-in, or until the time such Equity Shares become freely transferable, as applicable.

    3. The Buy-back will be implemented by the Company in accordance with Regulation 4(iv)(b)(ii) read with Regulation 16 of the Buy-back Regulations from the open market through the Stock Exchanges having nationwide terminal, using the order matching mechanism except “all or none” order matching system as provided under the Buy-back Regulations.

    4. For implementation of the Buy-back, the Company has appointed Edelweiss Broking Limited as the registered broker to the Company (the “Company’s Broker”) through whom the purchases and settlements on account of the Buy-back will be made by the Company. The contact details of the Company’s Broker are as follows:

    Registrar Of Nava Bharat Ventures Ltd Buyback

    KFintech Private Limited
    Selenium Building, Tower-B, Plot No 31 & 32,
    Financial District,Nanakramguda, Serilingampally,
    Rangareddi, Telangana India - 500 032.
    Phone: 1-800-3454001

    Nava Bharat Ventures Ltd Buyback 2021 FAQs:

    When is Nava Bharat Ventures Ltd Buyback Start Date?
    Nava Bharat Ventures Ltd buyback 2021 start date is 10 March 2021

    When is Nava Bharat Ventures Ltd Buyback announcement Date?
    Nava Bharat Ventures Ltd buyback 2021 announcement date is 01 Mar 2021.

    What is Nava Bharat Ventures Ltd Buyback Price?
    The company has fixed the price at ₹ 100

    What is Nava Bharat Ventures Ltd Buyback Last Date?
    Nava Bharat Ventures Ltd buyback Last Date is 09 Sep 2021.