Star Cement Buyback 2021
(i) Star Cement Limited is the largest cement manufacturer in northeast India.
(ii) The 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. The brand “Star Cement” has established itself as the most accredited brand of the region on grounds of both quality and fair pricing.
(iii) Star Cement Limited is one of the most profitable cement manufacturers in North East India
(iv) 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.
(v) 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 unit in Meghalaya, 2.0 MTPA cement unit 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.
(vi) 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.
(vii) 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.
Presently Star Cement is marketing super quality clinker to different grinding units located in India, Nepal & Bhutan.
Buy Back Offer Deal:
|Buyback Type:||Tender Offer|
|Buyback Record Date:||Aug 26 2021|
|Buyback Opening Date:||Sep 22 2021|
|Buyback Closing Date:||Oct 05 2021|
|Buyback Offer Amount:||₹ 123 Cr|
|Date of Board Meeting approving the proposal:||Aug 13 2021|
|Date of Public Announcement:||Aug 13 2021|
|Buyback Offer Size:||5.9%|
|Buyback Number of Shares:||82,48,580|
|Price Type:||Tender offer|
|Buyback Price:||₹ 150 Per Equity Share|
Details of Buyback:
Salient financial parameters:
|Particulars (in Cr)||Mar 2017||Mar 2018||Mar 2019||Mar 2020||Mar 2021|
|Profit before tax||215||353||335||322||199|
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
|Amount Invested in Buyback||1,54,628||1,54,628||1,54,628||1,54,628|
|No. of Shares buyback||439||666||999||1333|