SENSEX NIFTY
YOU ARE HERE >  Moneycontrol Markets > Announcements Power - Generation/DistributionAnnouncement - NHPC
NHPC
BSE: 533098NSE: NHPCISIN: INE848E01016

28th-Oct-2013 10:54Source: BSE

NHPC - Buy back Offer

This Public Announcement (the “Public Announcement”) is being made pursuant to the provisions of Regulation 8 (1) of the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998, as amended (“Buyback Regulations”) for the time being in force including any statutory modifications and amendments from time to time and contains the disclosures as specified in Part A of Schedule II to the Buyback Regulations.

Offer for buy back of not exceeding 123,00,74,277 fully paid up equity shares of face value of Rs. 10 each at a price of Rs. 19.25 per fully paid up equity share on a proportionate basis through the Tender Offer Process.

Details of the Buy back Offer and Offer Price

Pursuant to the resolution passed by the Board of Directors of NHPC Limited (“NHPC” or “the Company”) on October 24, 2013, the Company hereby announces the buyback (“the Buyback”) of not exceeding 123,00,74,277 fully paid-up equity shares of face value Rs. 10 each (“Shares” or “Equity Shares”) from all the existing shareholders/ beneficial owners of Equity Shares of the Company, on a proportionate basis, through the “Tender Offer” process, in accordance with the provisions contained in the Article 16A of the Articles of Association of the Company, Sections 77A and all other applicable provisions if any, of the Companies Act, 1956, as amended (“the Companies Act, 1956”), Section 69, 70 and all other applicable provisions if any, of the Companies Act, 2013, as amended (“the Companies Act, 2013”) and the provisions contained in the Buyback Regulations subject to approvals as may be necessary, from time to time from statutory authorities including but not limited to Securities and Exchange Board of India (“SEBI”), the Stock Exchanges where the Equity Shares of the Company are listed, Reserve Bank of India, etc. at a price of Rs. 19.25 per Equity Share (“Buyback Price”) payable in cash, for an aggregate maximum amount of approximately Rs. 2367,89,29,832 (Rupees Two Thousand Three Hundred Sixty Seven Crore Eighty Nine Lakh Twenty Nine Thousand Eight Hundred Thirty Two only) (“the Buyback Size”). The Buyback Size represents 8.89% of the aggregate of the Company’s total paid-up equity share capital and free reserves, as per the audited accounts of the Company as on June 30, 2013 which stands at Rs. 26,62,416 Lakh (Rupees Twenty Six Lacs Sixty Two Thousand Four Hundred and Sixteen Lakh approximately) and is within the statutory limits of 10% of the total paid up equity share capital and free reserves as per the latest audited accounts of the Company and is within the power of the Board of Directors. The maximum number of Equity Shares proposed to be bought back represents 10% of the total number of shares in the paid-up equity capital of the Company.

The maximum amount required by the Company for the said Buyback aggregating to approximately Rs. 2367,89,29,832 (Rupees Two Thousand Three Hundred Sixty Seven Crore Eighty Nine Lakh Twenty Nine Thousand Eight Hundred Thirty Two only) will be met out of cash and/or fixed deposits of the Company lying with the banks. The maximum amount utilized for the Buyback will not exceed 10% of the paid up Equity Share capital and Free Reserves of the Company as per the audited accounts of the Company as on June 30, 2013. The Buyback price of Rs. 19.25 per Equity Share has been arrived at after considering the present stock market conditions and trends in the market price of Equity Shares of the Company and other relevant considerations.

The Buyback shall be on a proportionate basis from all the equity shareholders of the Company through the “Tender Offer” process, as prescribed under Regulation 4(1)(a) of the Buyback Regulations. Please see paragraph 9 below for details regarding record date and share entitlement for tender in the Buyback.

More Announcements on:

21st-Nov-2014 08:32Source: NSE

NHPC Limited

17th-Nov-2014 16:02Source: NSE

NHPC Limited

17th-Nov-2014 15:59Source: BSE

NHPC - Cessation of Directorship

5th-Nov-2014 16:52Source: BSE

NHPC - Extension of tenure of Director

4th-Nov-2014 16:49Source: BSE

NHPC - Outcome of Board Meeting

4th-Nov-2014 15:40Source: NSE

NHPC Limited

4th-Nov-2014 11:44Source: NSE

NHPC Limited

1 2 3 4 5 Next >>
OUR WINNING PICKS

DID YOU INVEST?

INTRADAY PICKS!

(November 20, 2014)

AT (Rs)



GAIN (Rs)

ALL TIME WINNERS

RECO PRICE

PEAK PRICE

OUR PACKAGES

Super Combo
3150

Powerful mix of both trader and investor packs with timely expert advice.

Technical
1890

Designed especially for traders looking to tap the profit opportunities of volatile markets.

Fundamental
1890

For all investors looking to unearth stocks that are poised to move.

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.