Navneet Education Buyback 2021 announced on 27 May 2021. The Navneet Education buyback to start from 7 June 2021 to 6 December 2021. The Company will do Buyback with equity of 50,00,000 Equity Shares around 2.18% of Face Value Rs. ₹2/ Each Fully paid off at a Price Of Rs. ₹100/- Per Equity. The size of this Buyback is about ₹50 Crores. And this will be done through a Buyback Open Market.
Navneet Education Limited was founded by Gala Group in 1959, and since then has been India’s most loved educational content provider. Navneet also manufactures stationery, general books, and children’s books in multiple Indian and foreign languages making it a dominant player in the field of publishing.
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Vikas, Gala, Grafalco, YOUVA, TOPClass, and TOPScorer are prominent brands owned by Navneet that are much loved by students and teachers alike. In December 2016, we acquired Encyclopaedia Britannica (India) Pvt. Ltd.’s Indian curriculum division for publishing CBSE textbooks. With this acquisition, Navneet will focus on serving the regional teaching and learning needs with supplemental digital solutions.
Navneet Education buyback 2021 Offer Details:
|Buyback Type||Open Market|
|Buyback Record Date||Not Declare|
|Buyback Offer Amount||50 Cr|
|Date of Board Meeting approving the proposal||27 May 2021|
|Date of Public Announcement||31 May 2021|
|Buyback Offer Size||2.18%|
|Buyback Number of Shares||50,00,000|
|Price Type||Open market|
|Face Value||₹2/- Rs.|
|Buyback Price||₹100/- per share.|
Navneet Education Buyback 2021 Important Dates
We have covered all important dates related to “Navneet Education Buyback 2021” Buyback Activity Dates are updated as they are announced.
|Board Meeting for Buyback proposal||27 May 2021|
|Buyback Approval date||27 May 2021|
|Public Announcement Date||31 May 2021|
|Buyback Record Date||Not Declare|
|Buyback Opening Date||7 June 2021|
|Buyback Closing Date||6 Dec 2021|
Details Of The Buyback Offer and Offer Price :
The board of directors of the Company (the “Board” which expression shall be deemed to also include any committee which the Board may constitute/authorize to exercise its powers, including the committee constituted by the Board to exercise its powers in relation to the Buyback) at its meeting held on May 27, 2021 (“Board Meeting”), have approved the buyback by the Company of its fully paid-up equity shares having face value of
2 (Rupees Two) each (“Equity Shares”) at a price not exceeding 100 (Rupees One Hundred only) per Equity Share (“Maximum Buyback Price”) and for an aggregate amount not exceeding `50,00,00,000 (Rupees Fifty Crores only) (“Maximum Buyback Size”), from the shareholders / beneficial owners of the Company excluding its promoters.
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Members of its promoter group and persons who are in control of the Company, payable in cash from the open market through the stock exchange mechanism i.e. using the electronic trading facilities of the stock exchanges where the Equity Shares of the Company are listed i.e. National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”) (collectively referred as the “Stock Exchanges”), provided under the Buyback Regulations (“Buyback”).
At the Maximum Buyback Price and for the Maximum Buyback Size, the indicative maximum number of Equity Shares bought back would be approximately 50,00,000 Equity Shares (“Maximum Buyback Shares”) which is 2.18 % of the total number of paid-up Equity Shares of the Company as at March 31, 2021.
Buyback Public Announcement Link :
Registrar of The Buyback :
Link Intime India Private Limited
Address: C-101, 1st Floor, 247 Park, L.B.S. Marg,
Vikhroli (West), Mumbai 400 083, Maharashtra, India
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email ID: [email protected]
Manager of The Buyback :
Inga Ventures Private Limited
Address: 1229, Hubtown Solaris, N.S. Phadke Marg, Opp. Telli Galli,
Andheri (E) – 400 069, Mumbai, Maharashtra, India
Tel: +91 22 2681 6003, 9820276170
Fax: +91 22 2681 6020
Email: [email protected],
Investor Grievance Email: [email protected]
Contact Person: Kavita Shah
Company Address :
Navneet Education Limited
Bhavani Shankar Road,
Dadar (W). Mumbai – 400 028 India.
Tel: +91 22 66626565
Fax: +91 22 66626470
Email: [email protected]
How to Participate in Navneet Education Ltd buyback?
The Investors are eligible for the buyback scheme who have Navneet Education shares in their Demat account as the Record date is Not Declare as the offer is Open Market. Investors can participate in the Navneet Education Buyback 2021 scheme as per the opening form by selling their shares. The payment will be given as per the accepted shares by the company under the Navneet Education buyback scheme.
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Navneet Education Buyback 2021 FAQs:
When is Navneet Education Buyback Announcement Date?
Navneet Education buyback 2021 announcement date is 27 May 2021.
When is Navneet Education Buyback Open Date?
Navneet Education buyback Open date is 7 June 2021.
When is Navneet Education Buyback Close Date?
Navneet Education buyback Close date is 6 Dec 2021.
When is Navneet Education Buyback Record Date?
Navneet Education buyback 2021 Record date is Not Declare as the offer is Open market.
What is Navneet Education Buyback Price?
Navneet Education company has fixed the price at ₹100 per share.
What is Navneet Education Buyback Offer Size?
Navneet Education company Buyback Offer Size is ₹50 Cr.
How to apply for Navneet Education Buyback 2021?
As per the record date you need to have Navneet Education shares in your Demat account. You can participate in buyback after having the stock in your account.
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