The Board of Directors of Supreme Petrochem Limited (SPL) at its meeting held on March 12, 2020 has approved buyback of 2.27 percent share proposal of the company under the Provisions of the Companies Act, 2013 and SEBI (Buy-Back) Regulations, 2018. 

 

The buyback of the company’s fully paid-up equity shares of Rs. 10 each from open market through the stock exchange mechanism, for an amount not exceeding Rs. 62.67 crores excluding dividend distribution tax (DDT) and all other expenses to be incurred for buyback viz, filing fees payable to SEBI, Stock Exchanges fees, advisors fees, transaction cost viz., brokerage, applicable taxes such as securities transaction tax, stamp duty etc., and any other incidental and related expenses in cash from the BSE and the National Stock Exchange of India, subject to a price not exceeding Rs. 1,851 per equity share and subject to a maximum of 41,00,000 equity shares. 

 

SPL owns and operates production facilities from two locations in India, the first at Amdoshi – Wangani Village near Nagothane in District Raigad Maharashtra and the second in New Manali Town near Chennai in Tamil Nadu. SPL exports its products to more than 100 countries around the globe.