Star Cement stock jumps over 1% ahead of nearly Rs124cr buyback offer

The buyback offer has a floor price of Rs150 per equity share and aggregates to an overall Rs123.73cr.

Sep 20, 2021 01:09 IST India Infoline News Service

Star Cement
Star Cement stock was trading on a higher note during Monday's session after the company updated about its buyback programme.

At around 12.56 pm, Star Cement was trading at Rs110.05  per piece up 1.2% on Sensex. The stock has touched an intraday high and low of Rs111.50 per piece and Rs108 per piece respectively.

The company has released the Letter of Offer along with the Tender Form and Form SH-4 (for physical shareholders) concerning the Buy-Back.

The company has fixed September 22, 2021, as the opening date for the buyback offer. The buyback will continue till October 05, 2021.

Under the buyback offer, Star Cements is offering fully paid-up equity shares not exceeding 82,48,580 shares having a face value of Re 1 each representing 2% of the present outstanding equity shares of the Company from all the existing public shareholders/beneficial owners of the Company as on the record date i.e. August 26, 2021, on a proportionate basis.

The buyback offer has a floor price of Rs150 per equity share and aggregates to an overall Rs123.73cr. 

Related Story

Open Free Demat Account (Rs699)