Star Cement Limited will buyback nearly 82,48,580 shares for about Rs.123.72 Crore. In a filing to the stock exchanges, Star Cement Limited said it will buyback percent of the fully paid-up equity shares at a price of Rs.150/- per equity share.
The Board approved the proposal of Star Cement Limited buyback of fully paid-up equity shares of face value Rs.1 each of the Company for an amount not exceeding Rs.123.72 Crores. Star Cement Limited Buyback 2021 Size is being 9.75 % and 6.07% of the aggregate of the total paid-up Equity Share capital and free reserves of the Company based on the latest standalone and consolidated audited financial statements of the Company respectively as of March 31, 2021. Star Cement Limited Buyback 2021 price is Rs.150 per Equity Share through the "tender offer" route, on a proportionate basis.
Star Cement Limited Buyback 2021 Offer Details:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | Aug 26, 2021 |
| Buyback Opening Date: | Sep 22, 2021 |
| Buyback Closing Date: | Oct 05, 2021 |
| Buyback Offer Amount: | ₹ 123.72 Crore |
| Date of Board Meeting approving the proposal: | Aug 13, 2021 |
| Date of Public Announcement: | Aug 17, 2021 |
| Buyback Offer Size: | 5.9% |
| Buyback Number of shares: | 82,48,580 |
| Price Type: | Tender Route |
| FV: | Rs.1 |
| Maximum Buyback Price: | ₹ 150 Per Equity Share |
Details Of Star Cement Limited Buyback
The Board of Directors of the Star Cement Limited at its meeting held on Aug 13, 2021, has approved a proposal to buy back up to 82,48,580 Equity Shares of the Company, being 5.9% of the total paid-up equity share capital of the Company, for an aggregate amount not exceeding Rs. 123.72 Cr, for Rs. 150 per Equity Share through " Tender Route".
Star Cement Limited Buyback Important Dates
In this section, we have covered all important dates related to “Star Cement Limited Buyback Date”. Dates are updated as they are announced. The most noted dates are the Star Cement Limited record date and Star Cement Limited buyback open and close dates, which one should use to participate in the buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Star Cement Buyback proposal | Aug 13, 2021 |
| Star Cement Buyback Approval date | Aug 13, 2021 |
| Public Announcement of Star Cement Buyback | Aug 17, 2021 |
| Star Cement Buyback Record Date | Aug 26, 2021 |
| Star Cement Buyback opens on/Buyback Opening Date | Sep 22, 2021 |
| Star Cement Buyback closes on/Buyback Closing Date | Oct 07, 2021 |
| Cut-off date to receive completed tender forms by Registrar | Oct 07, 2021 |
| Cut-off date for verification by the Registrar | 2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar |
2021 |
| Last date of settlement of bids on the stock exchange | 2021 |
| Last date to return unaccepted shares by Registrar | 2021 |
| Last date of extinguishment of Equity Shares | 2021 |
Note: If anything you want to know about the buyback offer you can refer the Star Cement Limited buyback offer documents. Click Here
How to Participate in Star Cement Limited buyback?
- Firstly to be eligible for the buyback the investor should have shares of eClerx Services Buyback 2021 in Demat or physical form as on record date [Not Announced].
- Once you have shares in Demat, you can participate in the buyback process which is opening from [Not Announced] by selling your shares through your broker on NSE or BSE.
- Then on [Not Announced], the payment will be given to you for accepted shares and unaccepted shares will be returned to your Demat account.
Checkout Current eClerx Services Shares market price on NSE and BSE: eClerx Services
Profit from the buyback on the basis of acceptance Ratio:
Buy 1333 Shares at CMP of Rs. 116 [2,00,000/150=1333)| Acceptance Ratio | 33% | 50% | 75% | 100% |
| Amount Invested in Buyback | 1,54,628 | 1,54,628 | 1,54,628 | 1,54,628 |
| No. of Shares buyback | 439 | 666 | 999 | 1333 |
| BuyBack Profit | 14926 | 22644 | 33966 | 45322 |
| Profit | 9.6% | 14.6% | 21.96% | 29.3% |
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About Star Cement Limited Services:
Star Cement Limited is the largest cement manufacturer in northeast India. Our plant is spread across 200 hectares of land in the idyllic town of Lumshnong, a strategic location at Meghalaya that ensures easy availability of high-grade limestone. Our brand “Star Cement” has established itself as the most accredited brand of the region on grounds of both quality and fair pricing. Star Cement Limited is listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE)
NECESSITY OF BUYBACK By Star Cement Limited
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 place 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 per 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
Century House, 2nd Floor,P 15/1, Taratala Main Road,CPT Colony, Taratala,Kolkata – 700088. West Bengal.Website:-https://starcement.co.in/
Star Cement Limited Buyback Registrar
MAHESHWARI DATAMATICS PRIVATE LIMITED
23 R. N. Mukherjee Road,
5th Floor Kolkata -700001
Tel No: (033) 22482248, 22435029
Fax: (033) 22484787
Email: mdpldc@yahoo.com
Website: http://www.mdpl.in
Contact Person: Mr. S. Rajagopal
SEBI REGN NO: INR00000353
Star Cement Limited Buyback 2021 FAQs:
When is Star Cement Limited Record Date?
Star Cement Limited buyback 2021 record date is 26 August 2021.
What is the Star Cement Limited Buyback Opening Date?
Star Cement Limited buyback 2021 Opening date is not announced yet.
What is the Star Cement Limited Buyback Closing Date?
Star Cement Limited buyback 2021 Closing date is not announced yet.
When is Star Cement Limited Buyback Announcement Date?
Star Cement Limited buyback 2021 announcement Date is 17-Aug-2021.
What is Star Cement Limited Buyback Price?
The company has fixed the maximum price of ₹150
How to apply for Star Cement Limited Buyback 2021?
As per the record date you need to have Star Cement Limited shares in your Demat account. You can participate in buyback after having the stock in your account.
