Star Cement Buyback 2021 was announced on 13 August 2021. The Star Cement buyback is to start on 22 September 2021 and closes on 5 October 2021. The Company will do Buyback with equity of 82,48,580 Equity Shares around 5.9% of Face Value Rs. ₹1/ Each Fully paid off at a Price Of Rs. ₹150/- Per Equity. The size of this Buyback is about ₹124 Crores Approx. And this will be done through a Buyback Tender Offer.
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 in the region on grounds of both quality and fair pricing.
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Product: Star Cement’s product range includes Ordinary Portland Cement (OPC 43-Grade) and (OPC 53-Grade) and Portland Pozzolana Cement (PPC), Portland Slag Cement (PSC), and Anti Rust Cement (ARC) in line with evolving customer needs.
Plant: Star Cement’s 1.0 MTPA integrated cement plant at Lumshnong (Meghalaya) is proximate to key raw material reserves of limestone, coal, and shale. The company also added 0.67 MTPA cement units in Meghalaya, 2.0 MTPA cement units in Sonapur (Guwahati), and 2 grinding units in West Bengal with a total capacity of 0.67 MTPA ( though trading agreement), aggregating an installed capacity of 4.3 MTPA.
Pride: Star Cement was recognized by the Meghalaya state government for its pioneering cement plant in the backward area of Lumshnong in 2005. The company is an ISO 9001:2008, ISO 14001 & OHSAS 18001 certified Company.
Penetration: Brand “Star Cement’ is one of the largest in the Northeastern region. Its output is marketed through a network of over 6000 dealers and retailers across the North East, resulting in the largest market share in North East India. Star Cement also has a network of over 6000 dealers and retailers across West Bengal and Bihar. The Company’s institutional customers comprise Larsen & Toubro, National Hydro Power Corporation, Public Works Department, Indian Railways, and Ministry of Defence.
Star Cement buyback 2021 Offer Details:
| Event Name | Details |
| Buyback Type | Tender Offer |
| Buyback Record Date | 25 August 2021 |
| Buyback Offer Amount | ₹124 Cr Approx |
| Date of Board Meeting approving the proposal | 13 August 2021 |
| Date of Public Announcement | 13 August 2021 |
| Buyback Offer Size | 5.9% |
| Buyback Number of Shares | 82,48,580 |
| Price Type | Tender Offer |
| Face Value | ₹1/- Rs. |
| Buyback Price | ₹150/- per share. |
Star Cement Buyback 2021 Important Dates
We have covered all important dates related to “Star Cement Buyback 2021” Buyback Activity Dates are updated as they are announced.
| Buyback Activity | Dates |
| Board Meeting for Buyback proposal | 13 August 2021 |
| Buyback Approval date | 13 August 2021 |
| Public Announcement Date | 13 August 2021 |
| Buyback Record Date | 25 August 2021 |
| Buyback Opening Date | 22 September 2021 |
| Buyback Closing Date | 5 October 2021 |
Details Of The Buyback Offer and Offer Price :
The Board of Directors of the Company at its meeting held today, i.e., 13th August 2021, has unanimously approved a proposal to BuyBack up to 82,48,580 (Eighty-Two Lakhs Forty-Eight Thousand Five Hundred Eighty Only) fully paid-up Equity Shares of Re. 1/- each of the Company (representing 2% of the total Equity Capital) from all the Equity shareholders of the Company on a proportionate basis through the “Tender Offer” route using the Stock Exchange Mechanism as prescribed under.
The Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 (“the Buy-Back Regulations”) as amended, at a price of Rs. 150/- (Rupees one hundred fifty only) per share payable in cash for an aggregate consideration not exceeding Rs. 123,72,87,000/- (Rupees One Hundred Twenty Three Crores Seventy Two Lakhs and Eighty-Seven Thousand only) (excluding Company’s transaction cost such as Brokerage, Buy Back Tax, Securities Transaction Tax, GST, Stamp duty and other related expenses, etc.)(the “Buyback Offer Size”) in accordance with provisions of the Companies Act, 2013 and the Buy-Back Regulations, as amended.
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The Buy-Back size also does not include any expenses that may be incurred for the purpose of Buy-Back which includes filing fees, advisory fees, newspaper advertisement, public announcement expenses, printing & dispatch expenses, and other incidental and related expenses.
The maximum shares proposed to be bought back represent 2% of the total paid-up equity shares of the Company and the aggregate consideration for proposed buy-back represents 9.75% & 6.07% of the aggregate of the paid-up equity share capital and free reserves as per the Standalone and Consolidated audited financial statements of the Company for the financial year ended 31st March 2021 respectively.
Buyback Public Announcement Link :
■ Buyback Public Announcement Link
■ Letter Of Offer
Registrar of The Buyback :
MAHESHWARI DATAMATICS PRIVATE LIMITED
23 R. N. Mukherjee Road, 5th Floor
Kolkata -700001
Tel No: (033) 22482248, 22435029
Fax: (033) 22484787
Email: [email protected]
Website: http://www.mdpl.in
Manager of The Buyback :
NARNOLIA FINANCIAL SERVICES LIMITED
(Formerly Narnolia Financial Advisors Limited)
201, 2ND Floor, Marble Arch
236B, A.J.C Bose Road, Kolkata – 700020
Tel No: (033) 4050 1508
Fax: (033) 4050 1549
Email: [email protected]
Website: www.narnolia.com
Company Address :
Star Cement Limited
Lumshnong,
P.O. Khaliehriat, Distt. Jantia Hills, Meghalaya
Ph: 03655-278215/16/18,
Fax:03655-278217
e-mail: [email protected]
https://starcement.co.in/
How to Participate in Star Cement Ltd buyback?
The Investors are eligible for the buyback scheme who have Star Cement shares in their Demat account as the Record date 25 August 2021 the offer is Tender Offer. Investors can participate in the Star Cement 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 Star Cement buyback scheme.
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Star Cement Buyback 2021 FAQs:
When is Star Cement Buyback Announcement Date?
Star Cement buyback 2021 announcement date is 13 August 2021.
When is Star Cement Buyback Open Date?
Star Cement buyback Open date is 22 September 2021
When is Star Cement Buyback Close Date?
Star Cement buyback Close date is 5 October 2021.
When is Star Cement Buyback Record Date?
Star Cement buyback 2021 Record date is 25 August 2021 the offer is Tender Offer.
What is Star Cement Buyback Price?
Star Cement company has fixed the price at ₹150 per share.
What is Star Cement Buyback Offer Size?
Star Cement company Buyback Offer Size is ₹124 Cr Approx.
How to apply for Star Cement Buyback 2021?
As per the record date you need to have Star Cement shares in your Demat account. You can participate in buyback after having the stock in your account.
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