NMDC BUYBACK 2020 | LATEST NMDC SHARE NEWS | NMDC BUY BACK RECORD DATE | NMDC BUYBACK PRICE | National Mineral Development Corporation (NMDC) Government Companies Buybacks
NMDC (National Mineral Development Corporation) board to consider share buyback on November 10.
The Board of NMDC at its meeting held on 10 November 2020 has approved buyback of 13,12,43,809 equity shares of the company (representing 4.29% of the total paid-up equity share capital of the company) at a price of Rs 105 per share for cash consideration not exceeding Rs 1378.05 crore.
Buyback is done with the objective of returning surplus cash to the holder of equity shares of the company.
It is further notified that the Company has fixed November 23, 2020 as the record date for the purpose of ascertaining the eligibility of shareholders for Buyback of equity shares.
NMDC Share Buyback Offer Details
NMDC Share Buy Back Plan | Latest NMDC Stock News | NMDC Buyback Shares
| NMDC Buyback Type: | Tender Offer |
| NMDC Buyback Record Date: | Nov 23 2020 |
| NMDC Buyback Offer Amount: | ₹1378 crore |
| Date of Board Meeting approving the proposal: | Nov 10 2020 |
| Date of Public Announcement: | Nov 10 2020 |
| NMDC Buyback Offer Size: | 4.29% |
| Buyback Number of Shares: | 13,12,43,809 |
| Price Type: | Tender Offer |
| Face Value (FV): | 1 |
| NMDC Buyback Price: | ₹105 Per Equity Share |
| NMDC Buyback Premium: | 12% |
Can I Invest today to participate in National Mineral Development Corporation (NMDC) buyback offer? : Yes
It would be the third buy-back by the public sector mining major since 2016. During the previous such exercise it undertook in February 2019, NMDC bought back more than 10.20 crore shares at ₹98 each. The aggregate consideration was not more than ₹1,000 crore. In September 2016, the buyback was for up to 80.08 crore shares at ₹94 each for an aggregate amount not exceeding ₹7527.76 crore.
Board will also consider the proposal for buyback of the fully paid-up equity shares of the company of face value of Re 1 each.
Company’s October 2020 Iron Ore production fell 2.4 percent at 2.43 mt against 2.49 mt in October 2019. It October Iron Ore sales were down 3.4% at 2.52 mt versus 2.61 mt, YoY.
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NMDC Buyback Important Dates
In this section we have covered all important dates related to “NMDC Buyback Date”. Dates are updated as they are announced. The most noted dates are NMDC record date and NMDC buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for NMDC Buyback proposal | 10.11.2020 |
| NMDC Buyback Approval date | 10.11.2020 |
| Public Announcement of NMDC Buyback | 10.11.2020 |
| NMDC Buyback Record Date | 23.11.2020 |
| NMDC Buyback opens on/Buyback Opening Date | 17.12.2021 |
| NMDC Buyback closes on/Buyback Closing Date | 31.12.2020 |
| Cut-off date to receive completed tender forms by Registrar | 02.01.2021 |
| Cut-off date for verification by the Registrar | 05.01.2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar | 07.01.2021 |
| Last date of settlement of bids on the stock exchange | 08.01.2021 |
| Last date to return unaccepted shares by Registrar | 08.01.2021 |
| Last date of extinguishment of Equity Shares | 13.01.2021 |
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NMDC Share Holding Pattern as of SEP 2020
Stock Holding table gives a clear picture on retail investor holdings of NMDC shares which helps investor to decide on participating in buyback offer. The less number of retail holdings means higher chance of acceptance in NMDC buyback under retail category which is equal to higher profit.
Shareholding Pattern – National Mineral Development Corporation (NMDC Ltd.)
| Category | No. of shares | Percentage |
|---|---|---|
| Promoters | 2,132,453,593 | 69.65 |
| Foreign Institutions | 136,271,336 | 4.45 |
| NBFC and Mutual Funds | 131,173,255 | 4.28 |
| Central Government | 2,996,756 | 0.10 |
| Others | 34,559,647 | 1.13 |
| General Public | 129,603,528 | 4.23 |
| Financial Institutions | 494,791,544 | 16.16 |
NMDC Buyback Record Date
Tentative Record Date To Participate In NMDC Buyback is Nov 23, 2020
How to Apply for NMDC Buyback?
Now if you are wondering ‘how do I apply for a buyback?’ we’ve got you covered. When it comes to share-buyback schemes, the capital market regulator has compulsorily reserved a buyback portion of 15% for retail investors who possess in-hold shares in a company worth upto ₹2 lakhs.
This percentage is also taking into account the scrip’s market value as seen on the record date of the buyback offer.
During the application process of share buyback, you will be given a tender form by the company. This form is where you enter the number of shares of that company that you wish to tender.
There is a ratio of acceptance attached to the tender form which signifies how likely the company is to accept your request for share buybacks. Different companies have different ratios for share buybacks.
Here is what you can expect in a typical tender form given by a company. There are normally three fields as follows:
1. The number of shares you hold from the said company as on the record date
2. The number of shares that fit the eligibility criteria for buybacks
3. The number of shares that one is applying for a buyback.
Apply NMDC buyback from Zerodha
Here is complete method from Zerodha
- Hover your mouse on the stock and select ‘Options’ and click on ‘Place order’
- Enter the number of shares you want to tender and click on ‘Submit’
- Buyback/Takeover/Delisting orders are collected until 6:00 PM, one trading day prior to the offer end date. Ensure to hold sufficient quantities in your demat account before closure of the offer end date. (Do not sell the shares after placing the order). Only shareholders who hold the shares as on the record date will be eligible for the corporate action.
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Company Contact Information
National Mineral Development Corporation (NMDC)
NMDC Limited
Khanij Bhavan, Masab Tank,
Hyderabad – 500028, INDIA.
Grams:MINDEV
Corporate Identity Number (CIN) – L13100AP1958GOI001674
Registrar Contact Information
Link Intime India Private LimitedC-101, 1st Floor, 247 Park,
Lal Bhadur Shastri Marg, Vikhroli (West), Mumbai 400 083
Tel:+91 022 49186200
Contact Person: Mr. Sumeet Deshpande
E-mail: rites.buyback2020@linkintime.co.in
***Related Queries***
NMDC Buyback Important dates – Record Date, Buyback Start and End date. Buyback Details – Buyback Price, Buyback Offer Size, Buyback Number of Shares, Retail Investors limit. What is the record date for NMDC buyback? How can I apply in NMDC Buyback offer?
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NMDC Buyback 2020 FAQs:
NMDC buyback 2020 record date will be Nov 23, 2020.
NMDC buyback 2020 announcement date is Nov 10 2020.
The company has fixed the price at ₹105.
As per the NMDC record date you need to have NMDC shares in your demat account. You can participate in buyback after having the stock in your account.
The Record Date for NMDC Buyback offer is Nov 23, 2020.
Its all depend on acceptance ratio which usually announce with Letter of Offer.
The percentage of proportionate acceptance varies from company to company. This percentage can be also 100% which means that company buys all of your shares.
Steps to participate in NMDC buyback:
On Record date (Coming Soon) you must have share of NMDC in your demat account. Depositing of share in your DP account usually take T+2 days, so you need to plan your buying accordingly.
After that company announces buyback open and close window, so you need to tender your share in buyback process. You can do this online or contact your broker to tender your share in buyback, so he can place a request on your behalf.
Next step is with registrar – depend on buyback acceptance ratio, your shares will be sold in buyback process and fund will directly debited in your bank account. Any rejected share will be revert in your demat account which you can sell in open market or hold for long term gain.
Share holders who hold less than 2 lakh worth of shares are consider in Retail Category. All others will consider in General Category. Last trading price on record date will be used to calculate the eligibility criteria.
Buyback opening date for NMDC: (Coming Soon)
Buyback closing date for NMDC: (Coming Soon)
This is the window when you need to submit your application for proposal for share buyback.
As this is a buyback tender offer, shares are accepted in proportionate basis. Proportionate acceptance / rejection will be returned back to the eligible shareholders directly by the Registrar on or before (Coming Soon).