Nava Bharat Ventures Ltd Buyback Important Dates
|Board Meeting for Nava Bharat Ventures Ltd Buyback proposal
|Nava Bharat Ventures Ltd Buyback Approval date
|Public Announcement of Buyback
|Buyback Start Date ( Commencement Date )
|Last date for the completion of the Buy-back
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.