| Opening of Offer to Buy – Acquisition Window (Buyback) for Star Cement 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 Takeover, Buy Back and De-listing 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, 20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020, 20201102-43 dated Nov 02, 2020 and 20210825-62 dated Aug 25,2021 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 Star Cement Limited (“The Company”) has announced Cash offer to buyback not exceeding 82,48,580 (Eighty Two Lakhs Forty Eight Thousand Five Hundred Eighty Only) fully paid up equity shares of face value of Rs. 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 through the tender offer route at a price of Rs. 150/- (Rupees One Hundred Fifty only) per equity share for an aggregate amount of up to Rs. 123,72,87,000/- (Rupees One Hundred Twenty Three Crores Seventy Two Lakhs and Eighty Seven Thousand only), from September 22, 2021 to October 05, 2021.
Letter of Offer is herewith attached for perusal.
Market participants are further requested to note that this offer will be as per the SEBI circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017, 20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020 and the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Atul Dhotre
Senior Manager
Listing Sales & Ops
September 16,2021
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