Binani Industries announced that it will buy 30.1 per cent stake in Binani Cement from the public at Rs 82 per share costing around Rs 4.65 bn. Binani Industries said that the promoter/acquirer now seek to acquire the balance 5,67,75,318 crore equity shares of Rs 10 each representing 30.1 per cent of the paid-up equity share capital of the company from the public shareholders of Binani Cement. Binani Industries holds 60.9 per cent stake in Binani Cement. The floor price for the reverse book-building process in terms of Regulation 15 (2) of the Delisting Regulations has been determined by the promoter/acquirer to be Rs 82 per equity share. Binani Industries’ Board at a meeting, held on October 6, 2010, had decided to acquire all the shares held by public by giving them an exit opportunity and delist its subsidiary Binani Cement from the stock exchanges.