Nayara Energy has announced its decision to offer a buyback to its minority shareholders, aiming to purchase 2,59,08,262 shares at ₹731 per share to provide an exit opportunity. The Board of Directors approved this decision on Monday.
The company’s equity shares were previously listed on both BSE and NSE, but were voluntarily delisted in 2016 as per SEBI regulations. Following the delisting process, the erstwhile promoter entity acquired shares from non-promoter public shareholders through Reverse Book Building and an Exit Offer from 2016 to 2017.
Despite these processes, more than 2 lakh retail shareholders who did not participate in the delisting and subsequent exit offer still hold shares in the company. As the shares are not traded on any exchanges, these minority shareholders have been unable to liquidate their holdings.
In response to the shareholders’ requests for an exit opportunity, the Board of Directors has decided to conduct a buyback offer at ₹731 per share after a valuation exercise by an Independent Registered valuer. The company will finalize the buyback program schedule and issue the Letter of Offer to its minority shareholders shortly.
Published on March 6, 2025.
