Balrampur Chini Mills will buyback nearly 52,50,000 shares for about Rs.215.25 Crores. In a filing to the stock exchanges, Balrampur Chini Mills said it will buyback percent of the fully paid-up equity shares at a price of Rs.410/- per Equity Share ("Maximum Buyback Price").
The board of directors of Balrampur Chini Mills approved the proposal to buyback of not exceeding 52,50,000 Lakhs equity shares of the face value of Rs 1 each of the company (representing 8.56% 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.410/- per Equity Share ("Maximum Buyback Price") for an aggregate consideration not exceeding Rs215.25 crores," it said.
Balrampur Chini Mills Buyback 2021 Offer Details:
| Buyback Type: | Open Market |
| Buyback Record Date: | NA |
| Buyback Opening Date: | Aug 17, 2021 |
| Buyback Closing Date: | Feb 16, 2022 |
| Buyback Offer Amount: | ₹ 215.25 Crore |
| Date of Board Meeting approving the proposal: | Apr 09, 2021 |
| Date of Public Announcement: | Aug 11, 2021 |
| Buyback Offer Size: | 8.56% |
| Buyback Number of shares: | 52,50,000 |
| Price Type: | Open Market |
| FV: | Rs. 1 |
| Maximum Buyback Price: | ₹ 410 Per Equity Share |
Balrampur Chini Mills buyback of 52,50,000 Lakhs equity shares which is around 8.56% of all the existing number of equity shares at a price of ₹410 per equity share. The buyback offers do not exceed ₹215.25 crores of the total buyback offer size.
Balrampur Chini Mills Buyback Important Dates
In this section, we have covered all important dates related to “Balrampur Chini Mills Buyback Date”. Dates are updated as they are announced. The most noted dates are Balrampur Chini Mills record date and Balrampur Chini Mills buyback open and close dates, which one should use to participate in the buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Balrampur Chini Mills Buyback proposal | 09.04.2021 |
| Balrampur Chini Mills Buyback Approval date | 09.08.2021 |
| Public Announcement of Buyback | 11.08.2021 |
| Buyback Start Date ( Commencement Date ) | 17-08-2021 |
| Last date for the completion of the Buy-back | 16-02-2022 |
Note: If anything you want to know about the buyback offer you can refer the Balrampur Chini Mills buyback offer documents. Click Here
How to Participate in Balrampur Chini Mills buyback?
In this method of share Buyback, the company will be purchasing stocks from existing shareholders of the company directly from the market.
Example: “Balrampur Chini Mills ” announces buyback plan of its shares up to a value of Rs 410, which means that the company will be purchasing shares of “Balrampur Chini Mills ” from the open market at a price not exceeding Rs.410 per share.
Scenario 1- If the share price is below Rs.410 in that case, the company will put a buy order at Current Market Price and purchase shares.
Scenario 2- If the share price is above Rs.410, in that case, the company will put a buy order at Rs.410 only and if someone is ready to sell at Rs4190 or less then only the company will get back shares.
Checkout Current Balrampur Chini Mills LTD Shares market price on NSE and BSE: Infosys
The Balrampur Chini Mills approved a proposal for buyback of up to 52,50,000 Lakh fully paid-up Equity Shares of the Company of face value Rs. 1 each, being 8.56% of the total issued and paid-up equity share capital of the Company as per the audited consolidated and standalone condensed interim financial statements ("Audited Condensed Interim Financial Statements") as on 31.03.2020, for an aggregate amount not exceeding Rs.215.25 Cr, which is not exceeding 25% of the aggregate of the total issued and paid-up equity share capital and free reserves as per the Audited Condensed Interim Financial Statements of the Company as at and for the period as on 31.03.2020 at Rs.410 per share via " Open Market Offer".
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About Balrampur Chini Mills :
Balrampur Chini Mills Limited founded in 1975, is one of the largest sugar manufacturing companies in India. It is one of the first sugar companies in the country to diversify its business from sugar to distillery and cogeneration.
With a deep and profound sectorial understanding, the Company’s innovative approach to manufacturing has enabled it to successfully create a wide range of co-products ranging from Molasses, Alcohol, Ethanol, and Bagasse to Power Generation.
The Company’s aspirations and vision are led by Mr. Vivek Saraogi. He is the former President of the Indian Sugar Mills Association and has also worked as a committee member of FICCI and the Indian Chamber of Commerce in Kolkata. His stewardship enabled the Company to soar to new heights.
The Company possesses a cane crushing capacity of 76,500 tonnes per day, a distillery capacity of 520 KL per day, and a saleable co-generation capacity of 168.70 megawatts.
NECESSITY OF BUYBACK By Balrampur Chini Mills
2.1 The Buyback is being proposed by the Company to service the equity more efficiently. Additionally, the Company’s management strives to increase equity shareholders value and the Buyback would result in amongst other things
:a) The Buyback is being done to return surplus funds, after taking into account the strategic and operational cash needs of the Company in the short to medium term
b) The Buyback may help in improving earnings per share, return on equity, by a reduction in the equity base, thereby leading to a long term increase in shareholders’ value;
c) The Buyback gives an option to the equity shareholders, who can either
(i) choose to participate and get cash in lieu of Equity Shares to be accepted under the Buyback; or
(ii) choose to not participate and enjoy a resultant increase in their percentage shareholding, post the Buyback, without additional investment;
d) The Buyback, which is being implemented through the Tender Offer as prescribed under the Buyback Regulations, shall be from its existing securities holders on a proportionate basis in accordance with the provisions of Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018: provided that fifteen percent of the number of securities which the Company proposes to Buyback or number of securities entitled as per their shareholding, whichever is higher, shall be reserved for small shareholders.
Company Contact Information
"FMC Fortuna", 2nd floor,234/3A, A. J. C. Bose Road,Kolkata - 700020+91 33 2287 4749email: bcml@bcml.inwebsite:https://chini.com/
Balrampur Chini Mills Buyback Registrar
Selenium Tower B, Plot 31 & 32,Financial District, Nanakramguda,Serilingampally Mandal, Hyderabad 500 032Contact Person : Mr. S V Raju / Mr S Balaji ReddPhone : 1- 800-309-4001Email : einward.ris@kfintech.comSEBI Registration : INR000000221Validity period : Permanent Registration
Balrampur Chini Mills Buyback 2021 FAQs:
When is Balrampur Chini Mills Record Date?
Balrampur Chini Millsbuyback 2021 record date is not available because this is an open market buyback offer.
What is Balrampur Chini Mills Buyback Opening Date?
Balrampur Chini Mills buyback 2021 Opening date is 17-Aug-2021.
What is Balrampur Chini Mills Buyback Closing Date?
Balrampur Chini Mills buyback 2021 Closing date is 16-Feb-2022.
When is Balrampur Chini MillsBuyback Announcement Date?
Balrampur Chini Mills buyback 2021 announcement Date is 11 Aug 2021.
What is Balrampur Chini Mills Buyback Price?
The company has fixed the maximum price of ₹410
How to apply for Balrampur Chini Mills Buyback 2021?
As per the record date you need to have Balrampur Chini Mills shares in your Demat account. You can participate in buyback after having the stock in your account.
