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Balrampur Chini announces Rs 180 cr buyback offer

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NEW DELHI: Sugar agency Balrampur Chini Ltd has proposed to purchase again as much as 1 crore shares of the corporate from eligible shareholders for an quantity not exceeding Rs 180 crore.

The corporate, in a regulatory submitting, knowledgeable that the buyback offer will open on July 20 and finish on July 31.

It has supplied to “buyback as much as one crore absolutely paid-up fairness shares of the corporate of face worth of Rs 1 every, representing 4.55 per cent of the issued, subscribed and paid-up fairness shares of the corporate, from all eligible shareholders”, as per the submitting.

The file date has been mounted as July 3, 2020.

The purchase again will happen on a proportionate foundation, by way of the ‘tender offer’ course of at a value of Rs 180 per fairness share, payable in money, for an mixture most quantity not exceeding Rs 180 crore, the submitting stated.

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