The proposed buyback price is Rs 450 per share, reflecting a premium of 19.03% over the current market price.
The buyback offer intends to repurchase a maximum of 1,55,55,555 equity shares, equivalent to 3.74% of the total paid-up equity capital as of 31 March 2023.
The maximum buyback size represents 9.82% and 9.52% of the aggregate of the total paid-up equity share capital and free reserves of the company based on the latest audited standalone and consolidated financial statements of the company as on 31 March 2023, respectively.
As on 5 January 2023, promoters and promoter group held 60.56% stake in Chambal Fertlisers and Chemicals.
Chambal Fertilisers & Chemicals is engaged in production of Urea and has three Urea plants. Apart from manufacture of Urea, the Company also deals in other fertilisers and Agri-inputs.
The company's consolidated net profit rose 38.90% to Rs 380.97 crore on 37.28% decrease in revenue from operations to Rs 5385.52 crore in Q2 FY24 over Q2 FY23.