Star Cement board to meet on June 21 to consider proposed buyback

Star Cement is also eyeing acquisition of stressed cement plants and companies

The board of Star Cement is scheduled to meet on June 21 to decide on a proposed buyback, which the company says would increase the liquidity position of its shareholders. A decision on whether the company's promoters can participate in the buyback, if approved, will also be taken.

As on March 31, 2019, the promoters and its group companies held 67.99 per cent of the total shares. Sajjan Bhajanka, the company’s chairman and managing director, in his individual capacity, held 11.29 per cent of the total stakes, while Prem Kumar Bhajanka, a director at Star Cement held a 9.12 per