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 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 3.94% of 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 Activity | Date |
|---|---|
| Board Meeting for Nava Bharat Ventures Ltd Buyback proposal | 26.02.2021 |
| Nava Bharat Ventures Ltd Buyback Approval date | 26.01.2021 |
| Public Announcement of Buyback | 01.03.2021 |
| Buyback Start Date ( Commencement Date ) | 10-03-2021 |
| Last date for the completion of the Buy-back | 09-09-2021 |
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?
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.
