Nirma Share buyback offer : Fixed the offer price

by khalid on 02/02/2011 · 0 comments

Ahmedabad based FMCG firm Nirma Limited informed the share market (BSE/NSE) that it has fixed the offer price for acquisition of shares held by the public at Rs 260 per share. After buying back the company will delist from the bourses. Nirma Limited buy back bidding was open for its share holders between 17th Jan 2011 to 20th Jan 2011. The promoters bought back all the holdings of public and that is 22.83%.

In December 2010, Nirma Limited had announced that it will delist from the bourses. In this regard, it said it would acquire all the 3.63 crore outstanding shares held by public, amounting to 22.83% of the firm’s equity capital. At this price of Rs 260 per share , the promotors of Nirma have to spend Rs 940 crore for this buy back. Payment to shareholders whose shares have been accepted under the offer will be completed on or before 4th February 2011.

Stay tuned to BelltheBull Blog for more news on Nirma Limited !

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