|Opening of Offer to Buy – Acquisition Window (Buyback) for NMDC Limited
Trading Members and Custodians are requested to note that Securities Exchange Board of India (SEBI) has issued Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and vide its circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016. The Exchange vide its notice no. 20170210-16 dated Feb 10, 2017, has issued Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and Delisting.
All Market Participants are hereby informed that NMDC Limited (the “Company”), has announced cash offer for buyback of not exceeding 10,20,40,815 (Ten Crore Twenty Lakh Forty Thousand Eight Hundred Fifteen) fully paid-up equity shares of face value Re. 1/- each, representing 3.23% of the total number of equity shares in the issued, subscribed and paid-up equity share capital of the Company, from all the existing shareholders/ beneficial owners of equity shares of the Company as on the record date i.e. Friday, January 18, 2019 on proportionate basis, through the “Tender Offer” process at a price of Rs. 98 (Rupees Ninety Eight Only) per equity share for an aggregate consideration not exceeding Rs 1,000 crore (Rupees One Thousand Crore) from February 13, 2019 to February 27, 2019.
Market participants are further requested to note that this offer will be as per the Revised Guidelines of SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017 and the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Additional General Manager
Listing Sales & Ops
February 7, 2019