Balrampur Chini: Buyback record date set as April 18

India ’s largest sugar and ethanol manufacturer, Balrampur Chini Mills announced that the company's board approved a buyback of equity shares of Rs. 147.68 crore. 
  
Board of Balrampur Chini on Friday approved the buyback of equity shares of face value of Rs. 1 each, not exceeding 84,38,327 equity shares. The number of shares represents 3.69 per cent of the total paid up equity capital as of March 31 2018. The buyback price is fixed at Rs. 175 per equity share. This is more than 20 per cent at par from 5 April, Friday closing price on BSE. The total buyback scheme involves Rs. 147,67,07,225 ( Rs. 147.68 crore) excluding transaction costs, brokerages and other related charges. Under buyback regulations, the company has fixed Thursday, April 18, 2019 as the record date. 
  
According to the company filing on the stock exchange, as on March 31, 2019 Balrampur Chini had 40.98 per cent promoter stake. FII stake stood at 21.116 per cent with mutual funds stake stood at 4.67 per cent. 
  
Stock on Friday closed at per share of Rs. 146.05, higher by 6 per cent than its previous close. The stock is at its 52-week high on BSE. The benchmark index BSE Sensex closed 177.51 points higher at 38862.23.