Binani Cement announces buy back, India

Binani Cement announces buy back, India
Published: 17 June 2010

Binani Cement through Keynote Corporate Services made an announcement to the shareholders / beneficial owners of equity shares of the company that it would buy-back 1.45-crore fully paid-up equity shares of Rs.10 each through tender offer route at a price of Rs.90 per share payable in cash.

The buy-back represents 20.07% of the paid-up equity share capital and free reserves of the company as on March 31, 2010. The maximum amount of the buy-back is Rs.130.50 crore.

The offer opens on July 27 and closes on August 10, 2010.