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Incorporated in 1958, NMDC Ltd formerly known as National Mineral Development Corporationis state controlled mineral producer company. The company is owned by Government of India, under the administrative control of Ministry of Steel.
The company is India’s largest iron producer with 3 mines in Chhattisgarh and Karnataka. The Company also operates the only mechanized diamond mine in the country at Panna in MP. The Company is involved in the exploration of iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite etc.
Jan 08, 2019: NMDC (BSE:526371 | NSE:NMDC) board has approved a proposal for buyback of up to 10.20 Cr shares at Rs 98 per share, aggregating Rs 1000 Cr (Buyback Offer Size) which is 3.40% of total paid-up equity share capital.
Below is the complete details about NMDC Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 1000 Cr |
| Buyback Number of Shares: | 10.20 Cr |
| Buyback Price: | Rs 98 |
| Buyback Offer Size (In %): | 3.40% |
| Total Share Capital: | Rs 28.854.68 Cr |
| Face Value: | 1 Per Equity Share |
Can I Invest today to participate in NMDC buyback offer? No
In this section we have covered all important dates related to NMDC Buyback. Dates are updated as they are announced. The most noted dates are record date and buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Buyback proposal | 8th Jan 2019 |
| Buyback Approval date | 8th Jan 2019 |
| Public Announcement of Buyback | 8th Jan 2019 |
| Record Date | 18th Jan 2019 |
| Buyback opens on/Buyback Opening Date | 13th Feb 2019 |
| Buyback closes on/Buyback Closing Date | 27th Feb 2019 |
| Cut-off date to receive completed tender forms by Registrar | 1st Mar 2019 |
| Cut-off date for verification by the Registrar | 5th Mar 2019 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
6th Mar 2019 |
| Last date of settlement of bids on the stock exchange | 7th Mar 2019 |
| Last date to return unaccepted shares by Registrar | 7th Mar 2019 |
| Last date of extinguishment of Equity Shares | 11th Mar 2019 |
Stock Holding table gives a clear picture on retail investor holdings of NMDC shares which helps investor to decide on participating in buyback offer. The less number of retail holdings means higher chance of acceptance in buyback under retail category which is equal to higher profit.
| Holding Type | In % |
|---|---|
| Promoter-Foreign | 0.0% |
| Promoter-Indian | 72.43% |
| Non-Promoter-Institutions | 23.07% |
| Non-Promoter-Non-Institutions | 4.50% |
NMDC Public Announcement >>Document
NMDC Draft Letter of Offer >>Document
NMDC Letter of Offer >>Document
NMDC Post Buyback Public Announcement >>Document
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 90 Equity Shares out of every 451 fully paid-up Equity Shares held on the Record Date. | 19.97 |
| General Category | 5 Equity Shares out of every 178 fully paid-up Equity Shares held on the Record Date. | 2.81% |
For NMDC Buyback Offer, Report updated by the manager of buyback -
In general category - response received 144.26%, No. of Equity Shares reserved in Buyback was 86734692 where valid bid received for retail category was 125123856 which is 144.26% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 91.34%, No. of Equity Shares reserved in Buyback was 15306123 where valid bid received for retail category was 13981064 which is 91.34%. Final Acceptance Ratio for Retail Investors was 100%.
The table below will give you a complete dashboard view for all open buyback offer in current market.
| Company Name | Buyback Type | Offer Amount | Buyback Price | CMP | Record Date | Buyback Open Date | Buyback End Date |
|---|---|---|---|---|---|---|---|
| Tanla Platforms Ltd | Tender Offer | Rs 170 Cr | 1200 | 916.10 (-2.09%) | 25-10-2022 | TBD | TBD | Garware Technical Fibres Ltd | Tender Offer | Rs 90 Cr | 3750 | 4-11-2022 | TBD | TBD | Orbit Exports Limited | Tender Offer | Rs 10 Cr | 245 | 175.05 (-0.96%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 297.25 (0.46%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 468.95 (2.01%) | 22-04-2024 | 26-04-2024 | 03-05-2024 |
Detail Article on Benefit from buyback offer >> Read
NMDC Buyback Important dates - Record Date,Buyback Start and End date. Buyback Details - Buyback Price, Buyback Offer Size, Buyback Number of Shares, Retail Investors limit. What is the record date for NMDC? How can I apply in NMDC Buyback offer?Last Updated on 2020-11-17T22:43:21+00:00
