21st February, 2018

National Stock Exchange of India Limited

Listing Deptt., Exchange Plaza, 5th Floor,

Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (E) Mumbai- 400051

BSE Limited

The Corporate Relationship Department

1st Floor, New Trading Wing, Rotunda Building,

Phiroze Jeejeebhoy Towers Dalal Street, Fort, Mumbai-400001

The Calcutta Exchange Limited 7, Lyons Range, Kolkata - 700 001

Stock

Scrip Code: BALRAMCHIN

Scrip Code: 500038

Scrip Code: 12012

Dear Sir/ Madam,

Sub: Outcome of the Board Meeting - Board approves Buy-back of equity shares

Ref: Our letter dated 8th February, 2018

We wish to inform you that the Board of Directors (the "Board") of the Company at its meeting held today, that is, 21st February, 2018 has, inter-alia,

i. Approved the buyback of fully paid up Equity Shares of face value of Re. 1/- (Rupee One

only) each not exceeding 66,00,000 (Sixty Six Lacs) Equity Shares (representing upto 2.81% of the total paid-up Equity Share capital of the Company as on March 31, 2017) at a price of Rs. 150/- (Rupees One Hundred Fifty only) per Equity Share payable in cash for an aggregate amount of upto Rs. 99,00,00,000 (Rupees Ninety Nine Crores) excluding transaction costs viz. brokerage, securities transaction tax, Goods and Service Tax, stamp duty, etc., which is approximately 6.78% and 6.79% of the fully paid-up Equity Share capital and Free Reserves (including Securities Premium Account) as per the latest Audited Standalone and Consolidated Balance Sheet of the Company for the financial year ended March 31, 2017, respectively, on a proportionate basis through the "Tender Offer" route using Stock Exchange Mechanism as prescribed under Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 (the "Buyback Regulations") and the Companies Act, 2013 (the "Act") and rules made thereunder from the equity shareholders of the Company who hold Equity Shares as on the record date ("Buyback"). The buyback would be subject to applicable statutory approvals.

ii.

Noted the intention of the Promoters and Promoter Group of the Company to participate in the Buyback.

  • iii. In terms of the Regulations 42 of the SEBI (Listing Obligation and Disclosure Requirement)

    Regulations, 2015 and Regulations 9(1) of the Buyback Regulations, fixed Tuesday, 6th

    March, 2018 as the Record Date for determining the entitlement and the names of the Eligible Shareholders / Beneficial Owners to whom the letter of offer will be sent and who will be eligible to participate in the Buyback.

  • iv. Delegated/ authorized the Executive Committee of the Board to do all such acts, deeds, matters and things as it may at its absolute discretion, deem necessary expedient, usual or proper in connection with the Buyback.

  • v. Appointed "Axis Capital" as the 'Manager' to the Buyback. The public announcement setting out the process, timelines and other requisite details will be released in due course in accordance with the Buyback Regulations.

    The Pre-buyback shareholding pattern of the Company is attached thereto as Annexure A.

    Further, the said meeting commenced at 11.00 A.M. and concluded at 12.15 P.M.

    Thanking you,

    Yours faithfully,

    For Balrampur Chini Mills Limited

    Nitin Bagaria

    (Company Secretary)

    CC:

Karvy Computershare Private Limited

Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad - 500 032

National Securities Depository Limited Trade World - A Wing, Kamala Mills Compound Lower Parel, Mumbai-400013

Central Depository Services (India) Limited

Marathon Futurex, A-Wing, 25th floor,

NM Joshi Marg, Lower Parel Mumbai - 400013

Annexure- A

Pre-buyback Shareholding Pattern of the Company

Category of Shareholder

No of Shares

% of existing equity

Share Capital

Promoter GroupandPromoter

96220796

40.94

Foreign Investor

Foreign Portfolio Investors, Non Resident Indians and Foreign Institutional Investors

51079467

21.73

Indian Financial Institutional Institutions / Banks/ Insurance Companies

7579683

3.23

Mutual Funds

19815310

8.43

Bodies Corporate / Trust / Clearing Members

10460420

4.45

Resident Individual / HUF / Others

49872651

21.22

Total

235028327

100.00

Note: The above shareholding pattern has been prepared as per the BENPOS data as on Friday, February 16, 2018.

Balrampur Chini Mills Ltd. published this content on 21 February 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 21 February 2018 07:45:06 UTC.

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