Balrampur Chini announces Rs 148 cr buyback offer

Sugar major Balrampur Chini Friday announced buyback of more than 84 lakh shares for Rs 148 crore.

In a regulatory filing, the company informed that its board has approved the buyback of up to 84,38,327 equity shares (representing up to 3.69 per cent of the total paid-up share capital of the company as on March 31, 2018) at a price of Rs 175 apiece.

The buyback offer is of up to Rs 147.67 crore.

Promoters, who have around 40 per cent stake in the company, would participate in the buyback offer.